Sandy Spring Bank Sells 122 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sandy Spring Bank cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.6% during the 4th quarter, HoldingsChannel reports. The firm owned 20,056 shares of the basic materials company’s stock after selling 122 shares during the period. Sandy Spring Bank’s holdings in Air Products and Chemicals were worth $5,817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $885,371,000. Sachem Head Capital Management LP bought a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $163,013,000. TOMS Capital Investment Management LP bought a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $159,886,000. Proficio Capital Partners LLC bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $71,307,000. Finally, Bank of Montreal Can grew its holdings in Air Products and Chemicals by 25.2% during the 3rd quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock worth $350,139,000 after acquiring an additional 234,322 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Air Products and Chemicals news, 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 transaction of $993,565.56. Following the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

Air Products and Chemicals Stock Up 0.9 %

Air Products and Chemicals stock opened at $294.43 on Thursday. 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, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The firm’s fifty day moving average is $313.07 and its 200 day moving average is $308.24. The company has a market capitalization of $65.50 billion, a PE ratio of 17.10, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) 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, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.43%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. UBS Group reduced 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 note on Friday, March 14th. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.