Ninety One UK Ltd Sells 150,542 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Ninety One UK Ltd cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 23.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 501,547 shares of the basic materials company’s stock after selling 150,542 shares during the quarter. Ninety One UK Ltd’s holdings in Air Products and Chemicals were worth $137,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Rakuten Securities Inc. bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $33,000. Legacy Bridge LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $35,000. FinTrust Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 40.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 38 shares during the period. Finally, Artemis Wealth Advisors LLC bought a new position in Air Products and Chemicals during the third quarter worth $39,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE:APD traded up $2.67 during trading hours on Thursday, reaching $231.68. The stock had a trading volume of 625,444 shares, compared to its average volume of 1,737,131. The stock has a market cap of $51.50 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81. The stock has a 50 day simple moving average of $235.38 and a 200 day simple moving average of $257.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. Air Products and Chemicals’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 EPS. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS 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 13th. Stockholders of record on Monday, April 1st will be given a dividend of $1.77 per share. The ex-dividend date is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a dividend yield of 3.06%. Air Products and Chemicals’s dividend payout ratio is currently 67.56%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a report on Thursday, February 15th. TheStreet lowered Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Citigroup increased their price objective on Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Barclays reduced their target price on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $276.36.

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.