Associated Banc Corp Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Associated Banc Corp cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,494 shares of the basic materials company’s stock after selling 4,782 shares during the period. Associated Banc Corp’s holdings in Air Products and Chemicals were worth $29,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ironwood Investment Counsel LLC boosted its position in Air Products and Chemicals by 4.1% during the fourth quarter. Ironwood Investment Counsel LLC now owns 5,519 shares of the basic materials company’s stock valued at $1,601,000 after buying an additional 218 shares during the period. First National Trust Co raised its stake in shares of Air Products and Chemicals by 3.5% during the fourth quarter. First National Trust Co now owns 7,042 shares of the basic materials company’s stock valued at $2,042,000 after acquiring an additional 240 shares during the last quarter. Aviso Financial Inc. raised its stake in shares of Air Products and Chemicals by 3.8% during the fourth quarter. Aviso Financial Inc. now owns 6,635 shares of the basic materials company’s stock valued at $1,924,000 after acquiring an additional 245 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $12,609,000. Finally, Impact Capital Partners LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $818,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Wilbur Mok sold 1,300 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Walter L. Nelson sold 589 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $291.82 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The company has a 50 day simple moving average of $312.54 and a two-hundred day simple moving average of $307.69. The company has a market capitalization of $64.92 billion, a price-to-earnings ratio of 16.95, 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.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company 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 dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America downgraded 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 note on Monday, January 27th. UBS Group lowered their price objective on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $342.65.

Air Products and Chemicals Company 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.