Chevy Chase Trust Holdings LLC Lowers Position in Air Products and Chemicals, Inc. (NYSE:APD)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 120,060 shares of the basic materials company’s stock after selling 2,535 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Air Products and Chemicals were worth $34,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Air Products and Chemicals during the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. increased its position in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Financial Life Planners bought a new position in Air Products and Chemicals during the 4th quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased its position in Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after buying an additional 55 shares in the last quarter. Finally, Newton One Investments LLC bought a new position in Air Products and Chemicals during the 4th quarter valued at approximately $38,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a report on Monday, January 27th. 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 report on Friday, February 7th. Finally, Citigroup lifted their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $316.74 on Friday. The stock has a 50-day simple moving average of $308.42 and a two-hundred day simple moving average of $302.74. Air Products and Chemicals, Inc. has a 52-week low of $220.26 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.34 and a current ratio of 1.11. The firm has a market capitalization of $70.47 billion, a PE ratio of 18.39, a P/E/G ratio of 3.47 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released 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%. Analysts forecast that Air Products and Chemicals, Inc. will post 12.77 EPS 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. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.26%. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Insider Transactions at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the transaction, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 of the company’s stock, valued at approximately $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 a total of 9,749 shares of company stock valued at $3,030,032 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals 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.