Wolverine Asset Management LLC Sells 1,000 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Wolverine Asset Management LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 28.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the basic materials company’s stock after selling 1,000 shares during the period. Wolverine Asset Management LLC’s holdings in Air Products and Chemicals were worth $725,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of APD. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals in the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. lifted 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 valued at $30,000 after purchasing an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $30,000. Financial Life Planners acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $31,000. Finally, Newton One Investments LLC acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $38,000. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APD. 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 research note on Friday, February 7th. UBS Group raised their target price on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Citigroup raised their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $310.02 on Friday. The company’s 50 day simple moving average is $308.50 and its 200 day simple moving average is $304.66. The stock has a market capitalization of $68.97 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. Air Products and Chemicals, Inc. has a 1 year low of $227.10 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.11%.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the sale, the insider now directly owns 1,462 shares in the company, valued at approximately $462,240.54. The trade was a 50.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,911 shares of company stock valued at $4,660,897. 0.41% of the stock is currently owned by insiders.

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.