King Luther Capital Management Corp Has $33.14 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

King Luther Capital Management Corp trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,269 shares of the basic materials company's stock after selling 15,112 shares during the quarter. King Luther Capital Management Corp owned 0.05% of Air Products and Chemicals worth $33,143,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals during the fourth quarter worth about $885,371,000. ING Groep NV increased its position in shares of Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company's stock worth $304,717,000 after purchasing an additional 723,019 shares during the last quarter. Mizuho Markets Americas LLC raised its position in shares of Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company's stock valued at $282,473,000 after buying an additional 722,132 shares in the last quarter. Sachem Head Capital Management LP bought a new stake in Air Products and Chemicals during the third quarter worth about $163,013,000. Finally, TOMS Capital Investment Management LP purchased a new stake in Air Products and Chemicals in the third quarter worth approximately $159,886,000. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on APD. StockNews.com cut shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Sanford C. Bernstein raised 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 report on Friday, January 31st. UBS Group lifted their target price on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Bank of America downgraded shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price target on the stock. in a report on Monday, January 27th. Finally, BNP Paribas raised Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $343.53.

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Air Products and Chemicals Trading Down 1.7 %

Shares of NYSE:APD opened at $298.41 on Wednesday. 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 debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The firm has a market capitalization of $66.39 billion, a P/E ratio of 17.33, a P/E/G ratio of 3.07 and a beta of 0.85. The business's 50-day moving average is $312.10 and its 200 day moving average is $307.80.

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 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%. On average, research analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid 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 yield of 2.40%. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's payout ratio is 41.58%.

Insider Activity

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, 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. In the last quarter, insiders have sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is currently owned by 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.

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