Impax Asset Management Group plc Reduces Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Impax Asset Management Group plc decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,728 shares of the basic materials company’s stock after selling 133 shares during the period. Impax Asset Management Group plc’s holdings in Air Products and Chemicals were worth $3,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in Air Products and Chemicals during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. raised its holdings in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Sierra Ocean LLC bought a new stake in Air Products and Chemicals during the 4th quarter valued at $30,000. Financial Life Planners bought a new stake in Air Products and Chemicals during the 4th quarter valued at $31,000. Finally, Newton One Investments LLC bought a new stake in Air Products and Chemicals during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD opened at $317.51 on Wednesday. The company has a 50-day simple moving average of $308.81 and a two-hundred day simple moving average of $305.34. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The firm has a market cap of $70.64 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results 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%. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.26%. This is a positive change 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 dividend payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APD. 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 report on Monday, November 11th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $315.00 to $365.00 in a report on Friday, January 24th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a report on Friday, January 31st. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus price target of $339.94.

Insider Buying and Selling at Air Products and Chemicals

In other news, insider Wilbur Mok sold 1,300 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the sale, the insider now directly owns 3,193 shares in the company, valued at approximately $1,008,604.84. This represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the 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 owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,911 shares of company stock worth $4,660,897 over the last three months. Company insiders own 0.41% of the company’s stock.

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.