Bryn Mawr Capital Management LLC Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Bryn Mawr Capital Management LLC reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,689 shares of the basic materials company’s stock after selling 70 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Air Products and Chemicals were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ING Groep NV lifted its position in shares of Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after purchasing an additional 723,019 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in shares of Air Products and Chemicals by 318.7% during the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after purchasing an additional 722,132 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Air Products and Chemicals by 1,685.4% during the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock worth $249,698,000 after purchasing an additional 721,671 shares during the last quarter. Sachem Head Capital Management LP bought a new position in shares of Air Products and Chemicals during the third quarter worth about $163,013,000. Finally, TOMS Capital Investment Management LP bought a new position in shares of Air Products and Chemicals during the third quarter worth about $159,886,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on APD shares. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded shares of 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 lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Citigroup increased their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, 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 research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $339.94.

Insider Activity

In other news, 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 value of $1,419,570.00. Following the completion of the transaction, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Francesco Maione sold 2,016 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company’s stock, valued at $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,911 shares of company stock worth $4,660,897 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $313.79 on Thursday. The firm’s 50 day moving average is $309.18 and its two-hundred day moving average is $305.39. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. The firm has a market capitalization of $69.81 billion, a P/E ratio of 18.22, a PEG ratio of 3.07 and a beta of 0.85. 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) last posted its quarterly earnings data 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 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 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. The ex-dividend date 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 annualized dividend and a dividend yield of 2.28%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.11%.

Air Products and Chemicals Company 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.