Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,309 shares of the basic materials company's stock after selling 34,040 shares during the period. Kovitz Investment Group Partners LLC's holdings in Air Products and Chemicals were worth $7,341,000 at the end of the most recent reporting period.

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

Air Products and Chemicals Trading Up 2.9 %

NYSE:APD traded up $7.99 on Friday, reaching $280.15. 682,875 shares of the company's stock were exchanged, compared to its average volume of 1,481,286. The firm has a market capitalization of $62.33 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 52-week low of $235.14 and a 52-week high of $341.14. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $284.40 and a 200-day moving average of $304.09.

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

Insider Buying and Selling

In related news, insider Francesco Maione sold 2,016 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares of the company's stock, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the sale, the chief financial officer now owns 10,680 shares of the company's stock, valued at $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 in the last ninety days. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APD shares. StockNews.com lowered Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, BMO Capital Markets downgraded Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and an average target price of $331.06.

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.