Massachusetts Financial Services Co. MA Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Massachusetts Financial Services Co. MA reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 38.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,690,341 shares of the basic materials company's stock after selling 1,046,634 shares during the period. Massachusetts Financial Services Co. MA owned 0.76% of Air Products and Chemicals worth $490,267,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Generali Investments Management Co LLC bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. lifted its holdings in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals during the fourth quarter worth $31,000. Finally, WR Wealth Planners LLC lifted its position in Air Products and Chemicals by 40.3% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Insider Activity

In related news, VP Walter L. Nelson sold 589 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 of the company's stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares of the company's stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,842,604 over the last three months. Insiders own 0.41% of the company's stock.

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Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock traded down $19.85 during trading on Friday, hitting $263.35. The stock had a trading volume of 1,762,347 shares, compared to its average volume of 1,485,821. The business's 50-day moving average is $308.14 and its 200 day moving average is $309.11. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The firm has a market cap of $58.59 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 3.07 and a beta of 0.88. 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 (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.72%. This is an increase 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 (DPR) is presently 41.58%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an "overweight" rating in a report 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 price objective on the stock in a research note on Friday, January 31st. BMO Capital Markets downgraded shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, Bank of America cut 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $340.88.

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.