Franklin Resources Inc. Sells 126,202 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Franklin Resources Inc. reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,528,890 shares of the basic materials company's stock after selling 126,202 shares during the quarter. Franklin Resources Inc. owned about 1.59% of Air Products and Chemicals worth $1,023,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Air Products and Chemicals by 69.4% during the 4th 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 stake in Air Products and Chemicals during the fourth quarter worth approximately $30,000. Financial Life Planners bought a new stake in Air Products and Chemicals in the 4th quarter valued at $31,000. Finally, WR Wealth Planners LLC boosted its position in shares of 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 period. Institutional investors own 81.66% of the company's stock.

Analyst Ratings Changes

APD has been the topic of a number of analyst reports. StockNews.com downgraded shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. BMO Capital Markets downgraded Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Bank of America cut Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price objective on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $340.88.

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Insider Buying and Selling

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of 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 accessible through this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the completion of the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This represents a 28.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 in the last ninety days. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Down 5.2 %

Shares of Air Products and Chemicals stock traded down $14.86 during trading on Friday, reaching $268.34. 614,132 shares of the company traded hands, compared to its average volume of 1,478,822. The firm has a market capitalization of $59.70 billion, a PE ratio of 15.59, a P/E/G ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The company has a 50 day moving average price of $309.46 and a 200-day moving average price of $309.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (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 research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal 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 given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.67%. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals's dividend payout ratio is presently 41.58%.

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.