Atlantic Union Bankshares Corp Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Atlantic Union Bankshares Corp decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,648 shares of the basic materials company’s stock after selling 777 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Air Products and Chemicals were worth $1,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Amundi increased its position in Air Products and Chemicals by 0.6% in the fourth quarter. Amundi now owns 1,270,616 shares of the basic materials company’s stock worth $362,443,000 after buying an additional 7,496 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Air Products and Chemicals by 2.6% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,664 shares of the basic materials company’s stock worth $1,643,000 after purchasing an additional 141 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $87,000. HM Payson & Co. grew its position in shares of Air Products and Chemicals by 6.8% during the fourth quarter. HM Payson & Co. now owns 20,830 shares of the basic materials company’s stock worth $6,042,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Air Products and Chemicals by 312.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 198 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Activity

In related news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now directly 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. In the last three months, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research note on Friday, January 31st. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, UBS Group raised their price objective on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $343.53.

Air Products and Chemicals Trading Up 1.9 %

Shares of NYSE:APD opened at $316.76 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The business’s fifty day simple moving average is $311.63 and its 200-day simple moving average is $307.21. The company has a market capitalization of $70.47 billion, a PE ratio of 18.39, a P/E/G ratio of 3.07 and a beta of 0.85. 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 (NYSE:APD) last announced its quarterly earnings results 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, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

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.