Capital Research Global Investors Sells 988,725 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Capital Research Global Investors decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,313,423 shares of the basic materials company's stock after selling 988,725 shares during the period. Capital Research Global Investors owned approximately 5.99% of Air Products and Chemicals worth $3,861,423,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein raised 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. restated a "neutral" rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. UBS Group cut their price target on shares of Air Products and Chemicals from $370.00 to $335.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Barclays decreased their price objective on Air Products and Chemicals from $365.00 to $355.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Finally, BMO Capital Markets downgraded Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus price target of $332.18.

Air Products and Chemicals Stock Up 1.2 %

APD traded up $3.08 during trading on Thursday, hitting $267.82. 356,438 shares of the company's stock were exchanged, compared to its average volume of 1,480,613. Air Products and Chemicals, Inc. has a fifty-two week low of $228.81 and a fifty-two week high of $341.14. The stock has a market cap of $59.58 billion, a P/E ratio of 15.55, a PEG ratio of 3.07 and a beta of 0.89. The business's 50 day moving average is $289.66 and its two-hundred day moving average is $305.94. 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 issued 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 return on equity of 15.78% and a net margin of 31.88%. As a group, equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Insider Activity at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Walter L. Nelson sold 589 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now owns 719 shares of the company's stock, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,842,604 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Company 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.