Essex Investment Management Co. LLC Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Essex Investment Management Co. LLC lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,119 shares of the basic materials company’s stock after selling 228 shares during the period. Essex Investment Management Co. LLC’s holdings in Air Products and Chemicals were worth $1,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Enterprise Financial Services Corp lifted its stake in shares of Air Products and Chemicals by 9.6% during the fourth quarter. Enterprise Financial Services Corp now owns 1,156 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 101 shares in the last quarter. M. Kulyk & Associates LLC acquired a new stake in Air Products and Chemicals during the 4th quarter valued at $271,000. Amundi increased its position in shares of Air Products and Chemicals by 0.6% during the fourth quarter. Amundi now owns 1,270,616 shares of the basic materials company’s stock worth $362,443,000 after acquiring an additional 7,496 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Air Products and Chemicals by 2.6% during the 4th 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 during the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter worth $87,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.9 %

NYSE:APD opened at $316.76 on Monday. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The firm has a market capitalization of $70.47 billion, a price-to-earnings ratio of 18.39, a PEG 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. The business’s fifty day moving average price is $311.63 and its 200 day moving average price is $307.43.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate 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%. On average, sell-side analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.26%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insiders Place Their Bets

In related news, insider Francesco Maione sold 2,016 shares of the 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 completion of the sale, the insider now owns 3,834 shares in the company, valued at $1,173,204. This represents a 34.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the insider now directly owns 1,462 shares in the company, valued at $462,240.54. This trade represents a 50.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,842,604 over the last three months. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on APD shares. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Citigroup boosted 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. UBS Group increased their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to 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 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.