Fayez Sarofim & Co Sells 29,633 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Fayez Sarofim & Co lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,911 shares of the basic materials company's stock after selling 29,633 shares during the quarter. Fayez Sarofim & Co owned about 0.12% of Air Products and Chemicals worth $79,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of APD. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its holdings 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 in the last quarter. Sierra Ocean LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at $30,000. Financial Life Planners bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $31,000. Finally, WR Wealth Planners LLC grew its position in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after buying an additional 31 shares during the period. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of several research reports. Citigroup dropped their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. 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. reiterated a "neutral" rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. UBS Group dropped their target price on 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. Finally, Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.18.

Air Products and Chemicals Stock Performance

APD stock traded up $4.12 during trading on Thursday, reaching $268.86. The stock had a trading volume of 813,572 shares, compared to its average volume of 1,485,762. The stock's 50 day moving average is $289.66 and its two-hundred day moving average is $305.94. The firm has a market cap of $59.81 billion, a PE ratio of 15.61, a PEG ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 52 week low of $228.81 and a 52 week high of $341.14. 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 (NYSE:APD - Get Free Report) last announced 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 net margin of 31.88% and a return on equity of 15.78%. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares of the company's stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 over the last three months. 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.