Titleist Asset Management LLC Sells 236 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Titleist Asset Management LLC cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,949 shares of the basic materials company’s stock after selling 236 shares during the quarter. Titleist Asset Management LLC’s holdings in Air Products and Chemicals were worth $565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of Air Products and Chemicals by 1.8% during the fourth 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 raised its holdings in Air Products and Chemicals by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after buying an additional 31 shares during the period. WR Wealth Planners LLC lifted its stake in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in shares of Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after buying an additional 32 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in shares of Air Products and Chemicals by 3.5% during the fourth 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 in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APD. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research note on Monday, January 27th. 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. Finally, Citigroup reduced their target price on shares of 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.88.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $263.35 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $58.59 billion, a P/E ratio of 15.29, a P/E/G ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The stock has a 50 day moving average of $308.14 and a 200-day moving average of $309.39.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data 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%. As a group, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.72%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Insider Transactions at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 of the company’s stock, valued at $1,008,604.84. This represents a 28.93 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now owns 719 shares in the company, valued at $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 over the last quarter. Company insiders own 0.41% of the company’s stock.

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.