Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,570 shares of the basic materials company's stock after selling 14,423 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.08% of Air Products and Chemicals worth $52,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth $26,000. Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter worth $30,000. Raleigh Capital Management Inc. increased its stake in shares of Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock valued at $30,000 after buying an additional 43 shares during the period. Financial Life Planners bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $31,000. Finally, WR Wealth Planners LLC lifted its stake in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after acquiring an additional 31 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD stock traded up $0.79 during midday trading on Monday, reaching $270.03. The stock had a trading volume of 527,583 shares, compared to its average volume of 1,446,926. 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 fifty day simple moving average of $273.90 and a two-hundred day simple moving average of $298.70. The stock has a market cap of $60.09 billion, a PE ratio of 15.68, a P/E/G ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the prior year, the company earned $2.85 EPS. Air Products and Chemicals's quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be issued a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.65%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 104.07%.

Insider Activity at Air Products and Chemicals

In related news, VP Walter L. Nelson sold 589 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. This trade represents a 45.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on APD. Sanford C. Bernstein raised shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price on the stock in a research report on Friday, January 31st. Wall Street Zen lowered shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. reaffirmed 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 report on Friday, February 7th. Finally, UBS Group reduced their target price on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.38.

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.