Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,008 shares of the basic materials company’s stock after selling 1,121 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Air Products and Chemicals were worth $8,123,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals in the 3rd quarter worth $25,000. Generali Investments Management Co LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter worth about $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $30,000. Finally, Financial Life Planners acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $31,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 0.0 %

NYSE:APD opened at $293.57 on Wednesday. The stock has a 50-day simple moving average of $312.75 and a 200 day simple moving average of $309.01. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 17.05, 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 quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate 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 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is an increase 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 2.44%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.58%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Sanford C. Bernstein upgraded 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued 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, BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $341.47.

Insider Activity at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the company’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 completion of the transaction, the vice president now directly owns 719 shares of the company’s stock, valued at approximately $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. 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 in the last quarter. 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.