Corient Private Wealth LLC Sells 7,196 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Corient Private Wealth LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 409,473 shares of the basic materials company’s stock after selling 7,196 shares during the period. Corient Private Wealth LLC’s holdings in Air Products and Chemicals were worth $118,251,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of APD. Avalon Trust Co boosted its position in shares of Air Products and Chemicals by 10.2% in the 4th quarter. Avalon Trust Co now owns 640 shares of the basic materials company’s stock worth $186,000 after purchasing an additional 59 shares in the last quarter. one8zero8 LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at $551,000. Natixis Advisors LLC boosted its holdings in Air Products and Chemicals by 7.0% in the fourth quarter. Natixis Advisors LLC now owns 167,845 shares of the basic materials company’s stock worth $48,682,000 after acquiring an additional 11,012 shares in the last quarter. Ironwood Investment Counsel LLC grew its stake in shares of Air Products and Chemicals by 4.1% in the fourth quarter. Ironwood Investment Counsel LLC now owns 5,519 shares of the basic materials company’s stock worth $1,601,000 after acquiring an additional 218 shares during the last quarter. Finally, First National Trust Co increased its holdings in shares of Air Products and Chemicals by 3.5% during the fourth quarter. First National Trust Co now owns 7,042 shares of the basic materials company’s stock valued at $2,042,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Insider Transactions at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the sale, the insider now owns 3,193 shares in the company, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Air Products and Chemicals Trading Down 0.4 %

NYSE:APD opened at $291.82 on Monday. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14. The business has a fifty day moving average price of $312.54 and a 200-day moving average price of $308.12. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 3.07 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.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group cut their price objective on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company raised their price target on shares of 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. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Finally, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $342.65.

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.