HBK Sorce Advisory LLC Sells 293 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

HBK Sorce Advisory LLC cut its position in Air Products and Chemicals, Inc. (NYSE:APD) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,538 shares of the basic materials company’s stock after selling 293 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Air Products and Chemicals were worth $1,316,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of APD. First Horizon Advisors Inc. increased its position in shares of Air Products and Chemicals by 1.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 31 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Air Products and Chemicals by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 31 shares during the period. WR Wealth Planners LLC increased its holdings in 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 last quarter. Silver Oak Securities Incorporated raised its position in Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after purchasing an additional 32 shares during the period. Finally, SRS Capital Advisors Inc. raised its position in Air Products and Chemicals by 3.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 33 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This trade represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on APD shares. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Finally, Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. 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 assigned a strong buy rating to the company. According to MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $343.53.

Air Products and Chemicals Trading Down 0.7 %

NYSE:APD opened at $292.53 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The stock has a market cap of $65.08 billion, a P/E ratio of 16.99, a P/E/G ratio of 3.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The stock has a 50-day simple moving average of $312.38 and a 200-day simple moving average of $307.60.

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, analysts anticipate 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. Investors of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. Air Products and Chemicals’s payout ratio is 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.