Clearbridge Investments LLC Cuts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Clearbridge Investments LLC lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,834,077 shares of the basic materials company's stock after selling 19,413 shares during the quarter. Clearbridge Investments LLC owned approximately 0.82% of Air Products and Chemicals worth $531,956,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Generali Investments Management Co LLC acquired a new stake in Air Products and Chemicals during the fourth quarter worth approximately $26,000. Raleigh Capital Management Inc. lifted its position in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 43 shares during the period. Sierra Ocean LLC bought a new position in Air Products and Chemicals during the fourth quarter worth $30,000. Financial Life Planners acquired a new stake in Air Products and Chemicals in the fourth quarter worth $31,000. Finally, WR Wealth Planners LLC increased its stake in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by company insiders.

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Air Products and Chemicals Stock Performance

Shares of APD stock traded down $8.38 during trading on Thursday, reaching $286.58. 433,021 shares of the company's stock traded hands, compared to its average volume of 1,477,803. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The company has a market capitalization of $63.76 billion, a P/E ratio of 16.64, a PEG ratio of 3.07 and a beta of 0.88. 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's 50-day moving average is $310.28 and its 200 day moving average is $309.48.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's dividend payout ratio is presently 41.58%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup reduced their target price on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. restated a "neutral" rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Bank of America cut Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 target price on the stock. in a report on Monday, January 27th. UBS Group decreased their target price on shares of 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. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.