Bank of Montreal Can Sells 603,996 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Bank of Montreal Can lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 51.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561,737 shares of the basic materials company's stock after selling 603,996 shares during the period. Bank of Montreal Can owned 0.25% of Air Products and Chemicals worth $162,926,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APD. Integrated Wealth Concepts LLC increased its position in 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 worth $1,285,000 after acquiring an additional 69 shares during the period. EP Wealth Advisors LLC raised its position in shares of Air Products and Chemicals by 3.1% during the third quarter. EP Wealth Advisors LLC now owns 12,082 shares of the basic materials company's stock valued at $3,597,000 after buying an additional 365 shares during the last quarter. Headinvest LLC lifted its stake in shares of Air Products and Chemicals by 7.9% in the third quarter. Headinvest LLC now owns 1,303 shares of the basic materials company's stock valued at $388,000 after buying an additional 95 shares during the period. MML Investors Services LLC grew its position in Air Products and Chemicals by 6.4% during the third quarter. MML Investors Services LLC now owns 72,000 shares of the basic materials company's stock worth $21,437,000 after buying an additional 4,317 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Air Products and Chemicals by 1.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 317,020 shares of the basic materials company's stock valued at $94,390,000 after acquiring an additional 3,733 shares during the period. Institutional investors own 81.66% of the company's stock.

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Air Products and Chemicals Trading Up 2.6 %

Shares of APD stock traded up $6.84 on Friday, reaching $268.88. 1,002,627 shares of the stock were exchanged, compared to its average volume of 1,494,714. The stock has a 50 day moving average price of $298.09 and a 200 day moving average price of $307.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The stock has a market cap of $59.82 billion, a PE ratio of 15.61, a P/E/G ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results 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%. Equities research 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 company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.66%. 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 (DPR) is currently 41.58%.

Analyst Ratings Changes

A number of brokerages have commented on APD. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. BNP Paribas raised Air Products and Chemicals to a "strong-buy" rating in a research report on Tuesday, February 11th. UBS Group lowered their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Citigroup reduced 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 report on Tuesday, March 25th. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average price target of $338.24.

Insider Activity at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the sale, the chief financial officer now owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals 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 owns 719 shares in the company, valued at approximately $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is currently owned by company insiders.

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.