Farmers & Merchants Trust Co of Chambersburg PA Sells 1,717 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Farmers & Merchants Trust Co of Chambersburg PA reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 27.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,533 shares of the basic materials company's stock after selling 1,717 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Air Products and Chemicals were worth $1,315,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new stake in Air Products and Chemicals in the third quarter worth $25,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Financial Life Planners bought a new stake in Air Products and Chemicals in the fourth quarter worth $31,000. Iron Horse Wealth Management LLC lifted its stake in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Newton One Investments LLC bought a new stake in Air Products and Chemicals in the fourth quarter worth $38,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 0.3 %

APD traded up $0.85 during midday trading on Tuesday, reaching $316.97. The company's stock had a trading volume of 1,260,181 shares, compared to its average volume of 1,808,496. The firm has a market capitalization of $70.49 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 3.47 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 1 year low of $225.26 and a 1 year high of $341.14. The stock's 50-day moving average is $308.36 and its 200-day moving average is $303.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts expect that Air Products and Chemicals, Inc. will post 12.77 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. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio is currently 41.11%.

Insider Transactions at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of the 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 transaction, the insider now owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,749 shares of company stock worth $3,030,032. Corporate insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on APD. UBS Group boosted their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $339.94.

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.