Bragg Financial Advisors Inc Decreases Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Bragg Financial Advisors Inc trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,023 shares of the basic materials company's stock after selling 940 shares during the quarter. Bragg Financial Advisors Inc's holdings in Air Products and Chemicals were worth $9,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $919,721,000. Raymond James Financial Inc. bought a new position in Air Products and Chemicals in the 4th quarter worth about $885,371,000. Orion Portfolio Solutions LLC increased its stake in Air Products and Chemicals by 1,615.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company's stock valued at $153,723,000 after purchasing an additional 499,110 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $71,307,000. Finally, Vanguard Group Inc. increased its holdings in Air Products and Chemicals by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock worth $6,231,560,000 after buying an additional 207,404 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Walter L. Nelson sold 589 shares of the firm'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 sale, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. This trade represents a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Lefevere sold 1,500 shares of Air Products and Chemicals stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total transaction of $474,255.00. Following the transaction, the insider now directly owns 1,462 shares of the company's stock, 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 sold 15,500 shares of company stock valued at $4,842,604 over the last quarter. 0.41% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

A number of equities analysts have recently issued reports on APD shares. Sanford C. Bernstein upgraded 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. reissued 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 report on Friday, February 7th. Barclays decreased their target price on shares of Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Finally, Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $330.00 to $282.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $332.18.

Air Products and Chemicals Stock Down 2.6 %

Shares of NYSE APD traded down $7.13 during mid-day trading on Tuesday, reaching $265.45. 1,305,256 shares of the company were exchanged, compared to its average volume of 1,492,009. The stock has a market cap of $59.06 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 3.07 and a beta of 0.89. The firm has a 50-day moving average of $295.61 and a 200 day moving average of $307.20. 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 quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.70%. Air Products and Chemicals's dividend payout ratio (DPR) is 41.58%.

About Air Products and Chemicals

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.