MetLife Investment Management LLC Cuts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

MetLife Investment Management LLC trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 56,374 shares of the basic materials company’s stock after selling 928 shares during the period. MetLife Investment Management LLC’s holdings in Air Products and Chemicals were worth $16,886,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Cibc World Market Inc. grew its stake in shares of Air Products and Chemicals by 6.9% in the 1st quarter. Cibc World Market Inc. now owns 1,180 shares of the basic materials company’s stock worth $295,000 after buying an additional 76 shares in the last quarter. Prudential PLC purchased a new position in shares of Air Products and Chemicals in the 1st quarter worth $1,010,000. Cetera Investment Advisers grew its stake in shares of Air Products and Chemicals by 22.3% in the 1st quarter. Cetera Investment Advisers now owns 5,890 shares of the basic materials company’s stock worth $1,472,000 after buying an additional 1,075 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Air Products and Chemicals by 4.4% in the 1st quarter. Baird Financial Group Inc. now owns 105,875 shares of the basic materials company’s stock worth $26,459,000 after buying an additional 4,470 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Air Products and Chemicals by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock worth $188,000 after buying an additional 110 shares in the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APD has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Air Products and Chemicals from $300.00 to $310.00 and gave the stock a “hold” rating in a research note on Tuesday, September 26th. Redburn Atlantic cut shares of Air Products and Chemicals from a “buy” rating to a “sell” rating and set a $240.00 price target for the company. in a research note on Friday. StockNews.com initiated coverage on shares of Air Products and Chemicals in a research note on Thursday, October 5th. They set a “hold” rating for the company. Mizuho lifted their price target on shares of Air Products and Chemicals from $330.00 to $331.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Wells Fargo & Company dropped their price target on shares of Air Products and Chemicals from $345.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $320.31.

Insider Transactions at Air Products and Chemicals

In other news, CEO Seifi Ghasemi acquired 11,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $264.42 per share, with a total value of $2,908,620.00. Following the transaction, the chief executive officer now directly owns 670,673 shares in the company, valued at $177,339,354.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

Air Products and Chemicals Trading Up 0.9 %

NYSE:APD opened at $272.39 on Tuesday. The firm has a 50-day simple moving average of $282.85 and a 200-day simple moving average of $286.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.33. Air Products and Chemicals, Inc. has a one year low of $251.63 and a one year high of $328.56. The firm has a market cap of $60.51 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.87 and a beta of 0.86.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.04. Air Products and Chemicals had a net margin of 18.26% and a return on equity of 17.02%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm earned $2.89 EPS. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities analysts anticipate that Air Products and Chemicals, Inc. will post 13 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Stockholders of record on Tuesday, January 2nd will be given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, December 29th. Air Products and Chemicals’s payout ratio is currently 67.83%.

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; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.