Capital Research Global Investors Sells 988,725 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Capital Research Global Investors cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,313,423 shares of the basic materials company’s stock after selling 988,725 shares during the period. Capital Research Global Investors owned approximately 0.06% of Air Products and Chemicals worth $3,861,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 valued at $6,231,560,000 after purchasing an additional 207,404 shares during the last quarter. Dodge & Cox boosted its position in shares of Air Products and Chemicals by 1.0% during 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 buying an additional 64,960 shares during the period. Geode Capital Management LLC grew its stake in shares of Air Products and Chemicals by 1.2% during the fourth 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 buying an additional 57,314 shares during the last quarter. Norges Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth approximately $919,721,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $885,371,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares in the company, valued at approximately $3,282,177.60. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock valued at $4,842,604. Insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE APD opened at $262.88 on Friday. The firm’s fifty day simple moving average is $292.75 and its two-hundred day simple moving average is $306.44. The firm has a market capitalization of $58.48 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.07 and a beta of 0.89. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12-month low of $228.81 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.72%. 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 analysts have recently weighed in on the company. Citigroup decreased their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company dropped their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Finally, UBS Group cut their price target on Air Products and Chemicals from $370.00 to $335.00 and set a “buy” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $332.18.

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.