Lowe Brockenbrough & Co. Inc. Reduces Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Lowe Brockenbrough & Co. Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,043 shares of the basic materials company’s stock after selling 153 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Air Products and Chemicals were worth $1,173,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in APD. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals in the 4th quarter valued at $885,371,000. Sachem Head Capital Management LP acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $163,013,000. TOMS Capital Investment Management LP acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $159,886,000. Proficio Capital Partners LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $71,307,000. Finally, Bank of Montreal Can lifted its stake in shares of Air Products and Chemicals by 25.2% in the 3rd quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock valued at $350,139,000 after purchasing an additional 234,322 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group decreased their price target on 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. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. 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. Finally, Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price 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 given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $291.35 on Friday. The stock’s 50-day moving average is $313.19 and its two-hundred day moving average is $308.22. 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, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The company has a market cap of $64.82 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data 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 net margin of 31.88% and a return on equity of 15.78%. Analysts forecast 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. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Insider Activity

In related news, VP Walter L. Nelson sold 589 shares of the firm’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 transaction of $181,706.50. Following the transaction, the vice president now owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is currently owned by insiders.

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.