Lokken Investment Group LLC Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Lokken Investment Group LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 22.1% during the fourth quarter, HoldingsChannel reports. The fund owned 821 shares of the basic materials company’s stock after selling 233 shares during the period. Lokken Investment Group LLC’s holdings in Air Products and Chemicals were worth $238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Air Products and Chemicals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock valued at $1,430,354,000 after purchasing an additional 57,314 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Air Products and Chemicals by 4.4% during the fourth quarter. HighPoint Advisor Group LLC now owns 4,516 shares of the basic materials company’s stock valued at $1,398,000 after buying an additional 190 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in shares of Air Products and Chemicals by 6.1% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 13,065 shares of the basic materials company’s stock valued at $3,789,000 after acquiring an additional 748 shares in the last quarter. Rodgers Brothers Inc. raised its holdings in Air Products and Chemicals by 0.6% in the 4th quarter. Rodgers Brothers Inc. now owns 25,777 shares of the basic materials company’s stock worth $7,476,000 after acquiring an additional 150 shares during the last quarter. Finally, Summit Financial LLC lifted its position in Air Products and Chemicals by 4.4% in the 4th quarter. Summit Financial LLC now owns 3,141 shares of the basic materials company’s stock valued at $911,000 after acquiring an additional 132 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Kurt Lefevere sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the sale, the insider now directly owns 1,462 shares of the company’s stock, valued at $462,240.54. This trade represents a 50.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the company’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 transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Price Performance

NYSE APD opened at $294.76 on Tuesday. The business’s fifty day moving average is $311.24 and its 200 day moving average is $309.51. 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 debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The company has a market capitalization of $65.58 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data 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%. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders 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 dividend yield of 2.43%. 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 dividend payout ratio (DPR) is presently 41.58%.

Analyst Ratings Changes

A number of research firms have commented on APD. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Citigroup reduced their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research note on Monday, January 27th. Finally, BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $341.47.

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.