Skba Capital Management LLC Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Skba Capital Management LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 33,195 shares of the basic materials company’s stock after selling 1,350 shares during the period. Air Products and Chemicals comprises 1.5% of Skba Capital Management LLC’s holdings, making the stock its 29th biggest position. Skba Capital Management LLC’s holdings in Air Products and Chemicals were worth $9,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of Air Products and Chemicals by 1.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock worth $505,000 after buying an additional 31 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in 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 in the last quarter. WR Wealth Planners LLC boosted its holdings in shares of Air Products and Chemicals by 40.3% during 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 last quarter. Silver Oak Securities Incorporated grew its position 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 purchasing an additional 32 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in shares of Air Products and Chemicals by 3.5% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $292.34 on Monday. The stock has a market capitalization of $65.04 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The business has a 50-day moving average of $311.68 and a 200 day moving average of $309.41. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data 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 net margin of 31.88% and a return on equity of 15.78%. As a group, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup lowered their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $341.47.

Insider Buying and Selling

In other news, VP Sean D. Major sold 4,500 shares of the stock in a transaction dated Friday, February 7th. The stock was 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 approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,842,604 over the last 90 days. 0.41% of the stock is owned by insiders.

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.