Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,875,750 shares of the basic materials company's stock after selling 109,231 shares during the period. Wells Fargo & Company MN owned approximately 0.84% of Air Products and Chemicals worth $544,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its position in shares of Air Products and Chemicals by 1.6% during the third quarter. Integrated Wealth Concepts LLC now owns 4,315 shares of the basic materials company's stock valued at $1,285,000 after buying an additional 69 shares during the period. IHT Wealth Management LLC boosted its position in shares of Air Products and Chemicals by 13.1% during the third quarter. IHT Wealth Management LLC now owns 2,898 shares of the basic materials company's stock valued at $861,000 after buying an additional 335 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Air Products and Chemicals by 60.7% during the third quarter. Royal London Asset Management Ltd. now owns 60,309 shares of the basic materials company's stock valued at $17,850,000 after purchasing an additional 22,790 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Air Products and Chemicals by 138.3% in the 3rd quarter. Quantinno Capital Management LP now owns 23,861 shares of the basic materials company's stock worth $7,105,000 after buying an additional 13,846 shares during the last quarter. Finally, Wahed Invest LLC lifted its stake in shares of Air Products and Chemicals by 10.9% in the 3rd quarter. Wahed Invest LLC now owns 5,391 shares of the basic materials company's stock worth $1,596,000 after purchasing an additional 531 shares during the period. 81.66% of the stock is owned by institutional investors.

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Air Products and Chemicals Stock Down 3.7 %

Air Products and Chemicals stock traded down $9.96 during mid-day trading on Thursday, reaching $260.24. The stock had a trading volume of 536,631 shares, compared to its average volume of 1,492,314. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The firm has a market capitalization of $57.90 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The stock's 50-day simple moving average is $300.98 and its 200-day simple moving average is $308.05.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 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 forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.75%. Air Products and Chemicals's payout ratio is 41.58%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APD. Citigroup dropped their price objective on shares of 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. Barclays dropped their target price on Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Bank of America cut shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price objective for the company. in a research note on Monday, January 27th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price for the company in a research note on Friday, January 31st. Finally, UBS Group reduced their target price on Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $338.24.

Insider Activity

In related news, VP Sean D. Major sold 4,500 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now owns 14,273 shares in the company, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $181,706.50. Following the transaction, the vice president now owns 719 shares in the company, valued at $221,811.50. The trade was a 45.03 % 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 three months. Company insiders own 0.41% of the company's stock.

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.