CIBC Private Wealth Group LLC Sells 1,040 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

CIBC Private Wealth Group LLC trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,712 shares of the basic materials company's stock after selling 1,040 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Air Products and Chemicals were worth $4,482,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock valued at $6,231,560,000 after purchasing an additional 207,404 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company's stock worth $1,448,570,000 after buying an additional 88,806 shares in the last quarter. Norges Bank bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth $919,721,000. Raymond James Financial Inc. acquired a new stake in Air Products and Chemicals in the fourth quarter valued at about $885,371,000. Finally, Bank of New York Mellon Corp grew its position in Air Products and Chemicals by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company's stock valued at $605,734,000 after acquiring an additional 30,888 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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Air Products and Chemicals Trading Down 7.0 %

APD stock traded down $19.85 during midday trading on Friday, hitting $263.35. The stock had a trading volume of 1,762,347 shares, compared to its average volume of 1,485,821. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a market cap of $58.59 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The business has a fifty day moving average price of $308.14 and a two-hundred day moving average price of $309.11. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data 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 net margin of 31.88% and a return on equity of 15.78%. On average, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

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

Insider Activity at Air Products and Chemicals

In other news, insider Wilbur Mok sold 1,300 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total value of $410,644.00. Following the completion of the sale, the insider now directly owns 3,193 shares in the company, valued at $1,008,604.84. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurt Lefevere sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the transaction, the insider now directly owns 1,462 shares in the company, valued at approximately $462,240.54. This trade represents a 50.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 in the last quarter. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price target on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. BMO Capital Markets cut Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. StockNews.com lowered Air Products and Chemicals from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Finally, UBS Group dropped their target price on Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating for the company in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average target price of $340.88.

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.