Clearbridge Investments LLC Sells 19,413 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Clearbridge Investments LLC reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,834,077 shares of the basic materials company’s stock after selling 19,413 shares during the quarter. Clearbridge Investments LLC’s holdings in Air Products and Chemicals were worth $531,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in APD. Norges Bank acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $919,721,000. Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $885,371,000. Sachem Head Capital Management LP acquired a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $163,013,000. TOMS Capital Investment Management LP acquired a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $159,886,000. Finally, Orion Portfolio Solutions LLC grew its holdings in Air Products and Chemicals by 1,615.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company’s stock valued at $153,723,000 after buying an additional 499,110 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. This represents a 45.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the sale, the insider now owns 3,834 shares of the company’s stock, valued at $1,173,204. This represents a 34.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,842,604 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $292.34 on Friday. 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, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The company has a market capitalization of $65.04 billion, a P/E ratio of 16.98, a PEG ratio of 3.07 and a beta of 0.85. The company has a fifty day moving average price of $311.68 and a 200-day moving average price of $309.19.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 EPS 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%. As a group, equities analysts expect 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a positive change 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 annualized dividend and a dividend yield of 2.45%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. 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 on the stock. in a research report on Monday, January 27th. Citigroup reduced their target price on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a report on Friday, January 31st. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, StockNews.com downgraded 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.