Flputnam Investment Management Co. Sells 4,076 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Flputnam Investment Management Co. lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 19.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,680 shares of the basic materials company's stock after selling 4,076 shares during the period. Flputnam Investment Management Co.'s holdings in Air Products and Chemicals were worth $4,838,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APD. First Horizon Advisors Inc. boosted its position in shares of Air Products and Chemicals by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company's stock valued at $505,000 after purchasing an additional 31 shares during the period. Lake Street Advisors Group LLC lifted its stake in Air Products and Chemicals by 1.6% during 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 buying an additional 31 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in shares of Air Products and Chemicals by 1.1% during 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 period. Financial Perspectives Inc lifted its position in shares of Air Products and Chemicals by 33.3% in the 4th quarter. Financial Perspectives Inc now owns 140 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 35 shares in the last quarter. Finally, Chesapeake Wealth Management boosted its stake in Air Products and Chemicals by 1.7% in the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company's stock worth $652,000 after purchasing an additional 37 shares during the period. 81.66% of the stock is owned by institutional investors.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares of the company's stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm'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 of the company's stock, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,911 shares of company stock valued at $4,660,897 in the last ninety days. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets cut Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued 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. Wells Fargo & Company boosted 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 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. Finally, Citigroup lifted their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, six have issued 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $343.53.

Air Products and Chemicals Price Performance

APD traded up $6.35 during midday trading on Wednesday, reaching $311.70. 2,285,916 shares of the company's stock were exchanged, compared to its average volume of 1,671,229. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $310.83 and a two-hundred day simple moving average of $306.65. The firm has a market capitalization of $69.34 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. 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 announced its quarterly 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 predict 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. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio (DPR) is 41.58%.

Air Products and Chemicals 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.