Corebridge Financial Inc. Sells 3,457 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Corebridge Financial Inc. lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 57,408 shares of the basic materials company’s stock after selling 3,457 shares during the quarter. Corebridge Financial Inc.’s holdings in Air Products and Chemicals were worth $16,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. First Horizon Advisors Inc. lifted its holdings 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 valued at $505,000 after acquiring an additional 31 shares during the last quarter. Lake Street Advisors Group LLC raised its position in Air Products and Chemicals by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock valued at $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 valued at $31,000 after purchasing an additional 31 shares during the last quarter. Silver Oak Securities Incorporated boosted its holdings 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. increased its position in shares of 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 valued at $282,000 after purchasing an additional 33 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares in the company, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on APD shares. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Wells Fargo & Company lifted their price target 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. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research report on Monday, January 27th. Finally, StockNews.com downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Price Performance

Shares of APD opened at $294.06 on Tuesday. 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 50 day moving average price of $313.04 and a 200-day moving average price of $308.84. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The stock has a market capitalization of $65.42 billion, a PE ratio of 17.08, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its earnings results 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 return on equity of 15.78% and a net margin of 31.88%. Equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 2.43%. Air Products and Chemicals’s payout ratio is currently 41.58%.

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.