Cibc World Markets Corp Has $34.94 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Cibc World Markets Corp trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 72.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,481 shares of the basic materials company's stock after selling 309,690 shares during the period. Cibc World Markets Corp owned approximately 0.05% of Air Products and Chemicals worth $34,944,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in Air Products and Chemicals by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company's stock valued at $505,000 after acquiring an additional 31 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in Air Products and Chemicals by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company's stock valued at $588,000 after acquiring an additional 31 shares during the last quarter. WR Wealth Planners LLC lifted 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 acquiring an additional 31 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company's stock valued at $888,000 after acquiring an additional 32 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in Air Products and Chemicals by 3.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company's stock valued at $282,000 after acquiring an additional 33 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays upgraded shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Sanford C. Bernstein upgraded 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, Bank of America cut shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 target price for the company. in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of "Moderate Buy" and an average price target of $342.65.

Air Products and Chemicals Price Performance

APD stock traded down $1.23 during mid-day trading on Thursday, hitting $292.77. The stock had a trading volume of 860,562 shares, compared to its average volume of 1,419,672. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. The firm has a market capitalization of $65.13 billion, a P/E ratio of 17.00, a P/E/G ratio of 3.07 and a beta of 0.85. The firm has a fifty day simple moving average of $313.07 and a 200 day simple moving average of $308.24.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate 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%. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 41.58%.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now directly owns 3,834 shares of the company's stock, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 sale, the insider now directly owns 1,462 shares in the company, valued at $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 have sold a total of 15,500 shares of company stock valued at $4,842,604 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

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.