Intact Investment Management Inc. Cuts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Intact Investment Management Inc. cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,800 shares of the basic materials company's stock after selling 15,280 shares during the period. Intact Investment Management Inc.'s holdings in Air Products and Chemicals were worth $5,743,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APD. Prime Capital Investment Advisors LLC lifted its stake in shares of Air Products and Chemicals by 3.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,443 shares of the basic materials company's stock worth $1,323,000 after purchasing an additional 155 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in Air Products and Chemicals by 20.0% in the third quarter. Aptus Capital Advisors LLC now owns 3,386 shares of the basic materials company's stock worth $1,008,000 after purchasing an additional 565 shares in the last quarter. Schrum Private Wealth Management LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at about $225,000. Summit Asset Management LLC purchased a new position in shares of Air Products and Chemicals in the 3rd quarter worth approximately $265,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Air Products and Chemicals by 19.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 2,947 shares of the basic materials company's stock worth $877,000 after acquiring an additional 480 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

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Wall Street Analysts Forecast Growth

APD has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price 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. Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. Barclays upgraded Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $315.00 to $365.00 in a research note on Friday, January 24th. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $342.65.

Air Products and Chemicals Stock Performance

NYSE APD traded down $4.06 on Tuesday, hitting $291.56. 1,356,175 shares of the company's stock traded hands, compared to its average volume of 1,422,520. 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 1-year low of $227.53 and a 1-year high of $341.14. The firm's 50-day moving average price is $312.79 and its two-hundred day moving average price is $308.25. The firm has a market capitalization of $64.87 billion, a PE ratio of 16.93, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data 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, analysts expect 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 paid a $1.79 dividend. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's payout ratio is currently 41.58%.

Insider Activity at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, the insider now directly owns 3,834 shares in the company, valued at $1,173,204. The trade was a 34.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the completion of the sale, the insider now directly owns 1,462 shares of the company's stock, valued at approximately $462,240.54. The trade was a 50.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 in the last three months. Company insiders own 0.41% of the company's stock.

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.