Baldwin Investment Management LLC Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Baldwin Investment Management LLC lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,155 shares of the basic materials company's stock after selling 1,000 shares during the quarter. Baldwin Investment Management LLC's holdings in Air Products and Chemicals were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Air Products and Chemicals by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock worth $6,231,560,000 after purchasing an additional 207,404 shares during the period. Dodge & Cox lifted its holdings in Air Products and Chemicals by 1.0% in the fourth quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock valued at $1,932,581,000 after acquiring an additional 64,960 shares during the period. Bank of America Corp DE boosted its position in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Air Products and Chemicals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company's stock valued at $1,430,354,000 after purchasing an additional 57,314 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Air Products and Chemicals by 4.6% in the 4th quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock valued at $1,039,259,000 after purchasing an additional 156,419 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on APD shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Sanford C. Bernstein raised Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price for the company in a research note on Friday, January 31st. StockNews.com lowered shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company cut their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $330.38.

Insider Activity at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the transaction, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurt Lefevere sold 1,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the completion of the sale, the insider now directly owns 1,462 shares in the company, valued at $462,240.54. This represents a 50.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 in the last three months. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Trading Down 1.2 %

Shares of NYSE APD traded down $3.15 during mid-day trading on Wednesday, reaching $264.47. 1,379,198 shares of the company's stock were exchanged, compared to its average volume of 1,482,587. The company's 50-day moving average is $281.87 and its 200-day moving average is $302.78. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The firm has a market capitalization of $58.84 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the business posted $2.85 EPS. The business's revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

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.