Legal & General Group Plc Sells 417,766 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Legal & General Group Plc reduced its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 28.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,069,952 shares of the basic materials company's stock after selling 417,766 shares during the quarter. Legal & General Group Plc owned about 0.48% of Air Products and Chemicals worth $310,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Generali Investments Management Co LLC acquired a new position in shares of Air Products and Chemicals in the fourth quarter worth about $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 valued at $30,000 after acquiring an additional 43 shares in the last quarter. Sierra Ocean LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals in the fourth quarter worth about $31,000. Finally, WR Wealth Planners LLC raised its stake in Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction 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. This represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,842,604 in the last ninety days. Insiders own 0.41% of the company's stock.

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Air Products and Chemicals Stock Performance

Shares of NYSE APD traded up $3.69 during trading hours on Monday, hitting $272.70. 176,716 shares of the stock were exchanged, compared to its average volume of 1,489,578. 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, Inc. has a one year low of $227.53 and a one year high of $341.14. The company's 50 day moving average is $298.09 and its 200 day moving average is $307.68. The firm has a market capitalization of $60.67 billion, a P/E ratio of 15.84, a P/E/G ratio of 3.07 and a beta of 0.89.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly 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%. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current 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 issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.63%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 41.58%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research reports. Citigroup dropped their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Sanford C. Bernstein raised 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 report on Friday, January 31st. Finally, Bank of America downgraded Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price objective on the stock. in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $338.24.

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.