Rhumbline Advisers Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Rhumbline Advisers lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,196 shares of the basic materials company's stock after selling 4,869 shares during the quarter. Rhumbline Advisers owned about 0.19% of Air Products and Chemicals worth $119,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in APD. Exchange Traded Concepts LLC boosted its position in shares of Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company's stock worth $60,000 after purchasing an additional 37 shares during the period. Creative Planning boosted its holdings in Air Products and Chemicals by 3.1% in the 3rd quarter. Creative Planning now owns 71,202 shares of the basic materials company's stock worth $21,200,000 after buying an additional 2,131 shares during the period. Good Life Advisors LLC increased its stake in Air Products and Chemicals by 34.5% in the 3rd quarter. Good Life Advisors LLC now owns 2,872 shares of the basic materials company's stock worth $855,000 after buying an additional 737 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Air Products and Chemicals by 5.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,967 shares of the basic materials company's stock valued at $7,731,000 after acquiring an additional 1,398 shares during the period. Finally, Trust Point Inc. purchased a new position in shares of Air Products and Chemicals in the third quarter valued at about $249,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the company's stock in a transaction on 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 directly owns 10,680 shares in the company, valued at $3,282,177.60. This trade represents a 23.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,411 shares of company stock worth $4,186,642 over the last 90 days. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APD. 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. BMO Capital Markets lowered shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Redburn Atlantic raised shares of Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 target price on the stock in a report on Friday, October 25th. Citigroup raised their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and a consensus target price of $339.94.

Air Products and Chemicals Trading Down 0.0 %

Shares of Air Products and Chemicals stock traded down $0.11 on Wednesday, reaching $316.89. The company had a trading volume of 957,746 shares, compared to its average volume of 1,781,907. The firm has a market cap of $70.50 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 3.13 and a beta of 0.85. 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's 50-day moving average price is $308.39 and its two-hundred day moving average price is $304.10. Air Products and Chemicals, Inc. has a 1 year low of $225.26 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates 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, 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 company 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 $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.26%. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio (DPR) is presently 41.11%.

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.