Hartford Investment Management Co. Cuts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Hartford Investment Management Co. lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,724 shares of the basic materials company’s stock after selling 266 shares during the quarter. Hartford Investment Management Co.’s holdings in Air Products and Chemicals were worth $3,981,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APD. Truvestments Capital LLC purchased a new position in Air Products and Chemicals in the third quarter valued at $25,000. Raleigh Capital Management Inc. raised its position 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 in the last quarter. Financial Life Planners purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $31,000. Iron Horse Wealth Management LLC grew its position in shares of Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares in the last quarter. Finally, Newton One Investments LLC purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Buying and Selling at Air Products and Chemicals

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the 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 transaction, the chief financial officer now owns 10,680 shares in the company, valued at $3,282,177.60. This trade represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,749 shares of company stock valued at $3,030,032. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

APD has been the subject of a number of recent research reports. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. UBS Group increased their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $315.00 to $365.00 in a report on Friday, January 24th. Finally, StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $310.35 on Thursday. The stock’s 50-day moving average price is $308.90 and its 200 day moving average price is $302.60. The company has a quick ratio of 1.34, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $69.02 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52-week low of $216.30 and a 52-week 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 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%. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.77 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is currently 41.11%.

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.