Ensign Peak Advisors Inc Sells 441,542 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Ensign Peak Advisors Inc cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 61.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 277,803 shares of the basic materials company’s stock after selling 441,542 shares during the quarter. Ensign Peak Advisors Inc owned 0.12% of Air Products and Chemicals worth $80,574,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ethic Inc. raised its holdings in Air Products and Chemicals by 18.9% in the fourth quarter. Ethic Inc. now owns 15,567 shares of the basic materials company’s stock worth $4,515,000 after purchasing an additional 2,475 shares during the period. FORA Capital LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $248,000. Fullcircle Wealth LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $215,000. FWL Investment Management LLC lifted its holdings in Air Products and Chemicals by 5.5% during the fourth quarter. FWL Investment Management LLC now owns 5,734 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 300 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Air Products and Chemicals by 13.5% in the fourth quarter. Deutsche Bank AG now owns 441,677 shares of the basic materials company’s stock valued at $128,104,000 after acquiring an additional 52,459 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on APD shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Bank of America lowered shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $330.38.

Air Products and Chemicals Trading Up 0.5 %

NYSE APD opened at $271.05 on Friday. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. 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 stock has a 50 day moving average of $279.33 and a 200-day moving average of $301.67. The company has a market cap of $60.32 billion, a PE ratio of 15.74, a PEG ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.85 EPS. On average, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 2,362 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.82, for a total value of $745,966.84. Following the transaction, the vice president now owns 10,045 shares in the company, valued at approximately $3,172,411.90. This represents a 19.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the transaction, the chief financial officer now directly owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock valued at $3,423,034 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals 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.