Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,900 shares of the basic materials company’s stock after selling 700 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Air Products and Chemicals were worth $841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APD. Chelsea Counsel Co. grew its position in Air Products and Chemicals by 1.5% in the 3rd quarter. Chelsea Counsel Co. now owns 3,377 shares of the basic materials company’s stock valued at $1,005,000 after acquiring an additional 50 shares in the last quarter. Tudor Financial Inc. acquired a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $1,654,000. Anchor Investment Management LLC increased its stake in Air Products and Chemicals by 35.5% during the 3rd quarter. Anchor Investment Management LLC now owns 2,930 shares of the basic materials company’s stock worth $872,000 after buying an additional 768 shares during the period. World Investment Advisors LLC lifted its holdings in Air Products and Chemicals by 1,205.1% during the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock worth $11,440,000 after buying an additional 35,479 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Air Products and Chemicals by 286.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,299 shares of the basic materials company’s stock valued at $6,342,000 after buying an additional 15,791 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock worth $4,842,604. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of APD opened at $262.88 on Friday. The firm has a market cap of $58.48 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. The company’s 50 day simple moving average is $292.75 and its 200-day simple moving average is $306.44. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12-month low of $228.81 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.72%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.58%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on APD shares. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company cut their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $330.00 to $282.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $332.18.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.