Long Road Investment Counsel LLC Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Long Road Investment Counsel LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,415 shares of the basic materials company’s stock after selling 100 shares during the period. Air Products and Chemicals accounts for about 1.7% of Long Road Investment Counsel LLC’s holdings, making the stock its 20th biggest position. Long Road Investment Counsel LLC’s holdings in Air Products and Chemicals were worth $4,181,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of APD. First Horizon Advisors Inc. lifted its stake in shares of Air Products and Chemicals by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 31 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Air Products and Chemicals by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 31 shares during the period. WR Wealth Planners LLC lifted its stake in shares of Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of Air Products and Chemicals by 1.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 32 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake in Air Products and Chemicals by 3.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock worth $282,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD stock opened at $295.96 on Tuesday. The firm has a market cap of $65.84 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 3.07 and a beta of 0.85. The firm has a 50-day simple moving average of $312.79 and a two-hundred day simple moving average of $308.25. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year 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.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 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 fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.42%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Analysts Set New Price Targets

A number of equities research analysts have commented on APD shares. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Bank of America cut 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $342.65.

Insider Activity

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the transaction, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This trade represents a 23.97 % 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 corporate insiders.

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.