Principal Financial Group Inc. Sells 104,737 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Principal Financial Group Inc. trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 665,792 shares of the basic materials company's stock after selling 104,737 shares during the period. Principal Financial Group Inc. owned approximately 0.30% of Air Products and Chemicals worth $193,107,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in shares of Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company's stock valued at $60,000 after buying an additional 37 shares during the period. Creative Planning increased its position in Air Products and Chemicals by 3.1% in the third quarter. Creative Planning now owns 71,202 shares of the basic materials company's stock worth $21,200,000 after purchasing an additional 2,131 shares during the period. Blue Trust Inc. lifted its position in Air Products and Chemicals by 57.1% during the 3rd quarter. Blue Trust Inc. now owns 3,511 shares of the basic materials company's stock valued at $1,045,000 after purchasing an additional 1,276 shares during the period. Veracity Capital LLC bought a new position in shares of Air Products and Chemicals in the 3rd quarter valued at about $207,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Air Products and Chemicals by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,772 shares of the basic materials company's stock worth $3,207,000 after buying an additional 52 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Down 1.4 %

Shares of NYSE:APD traded down $4.26 during mid-day trading on Friday, reaching $310.02. 1,392,858 shares of the stock were exchanged, compared to its average volume of 1,750,034. The stock's 50 day simple moving average is $308.50 and its 200-day simple moving average is $304.48. Air Products and Chemicals, Inc. has a one year low of $227.10 and a one year high of $341.14. The company has a market cap of $68.97 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.14 and a beta of 0.85. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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 for the quarter, missing the consensus estimate 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 predict 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. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.31%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 41.11%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APD shares. Bank of America lowered shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price objective on the stock. in a report on Monday, January 27th. Citigroup raised their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. BNP Paribas raised Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reissued a "neutral" rating and issued 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. Finally, Barclays upgraded Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $315.00 to $365.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $339.94.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 1,462 shares of the company's stock, valued at $462,240.54. The trade was a 50.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wilbur Mok sold 1,300 shares of the 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 sale, the insider now directly owns 3,193 shares of the company's stock, valued at approximately $1,008,604.84. The trade was a 28.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,911 shares of company stock valued at $4,660,897. 0.41% of the stock is owned by insiders.

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.