Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Luminus Management LLC

Luminus Management LLC lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 77.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,000 shares of the basic materials company's stock after selling 17,000 shares during the quarter. Air Products and Chemicals comprises about 1.7% of Luminus Management LLC's investment portfolio, making the stock its 9th largest position. Luminus Management LLC's holdings in Air Products and Chemicals were worth $1,450,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in APD. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals during the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. lifted its holdings in Air Products and Chemicals by 69.4% in 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. Sierra Ocean LLC bought a new position in Air Products and Chemicals in the fourth quarter valued at approximately $30,000. Financial Life Planners acquired a new stake in Air Products and Chemicals during the 4th quarter worth $31,000. Finally, WR Wealth Planners LLC lifted its stake 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 valued at $31,000 after purchasing an additional 31 shares during the period. Institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group dropped their price objective on 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Wells Fargo & Company cut their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, Barclays cut their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned 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 $330.38.

Air Products and Chemicals Stock Up 1.4%

Shares of NYSE:APD traded up $3.85 during mid-day trading on Friday, reaching $278.27. 471,889 shares of the stock were exchanged, compared to its average volume of 1,454,687. The stock's 50 day simple moving average is $276.37 and its 200-day simple moving average is $300.37. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a market cap of $61.93 billion, a P/E ratio of 16.16, a P/E/G ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

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

Insider Activity

In other news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now owns 719 shares of the company's stock, valued at $221,811.50. This trade represents a 45.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wilbur Mok sold 1,300 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This represents a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,751 shares of company stock worth $1,812,572 in the last quarter. Corporate insiders own 0.41% of the company's stock.

About Air Products and Chemicals

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.