Kovitz Investment Group Partners LLC Sells 34,040 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Kovitz Investment Group Partners LLC lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 57.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,309 shares of the basic materials company’s stock after selling 34,040 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Air Products and Chemicals were worth $7,341,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $26,000. Raleigh Capital Management Inc. increased its stake in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $30,000. Financial Life Planners bought a new position in Air Products and Chemicals during the fourth quarter worth about $31,000. Finally, WR Wealth Planners LLC grew its holdings in Air Products and Chemicals by 40.3% during the fourth 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 period. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APD. Barclays cut their price objective on Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Sanford C. Bernstein raised shares of 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 report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $332.18.

Air Products and Chemicals Trading Down 0.5 %

APD opened at $267.44 on Friday. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 3.07 and a beta of 0.89. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a twelve month low of $228.81 and a twelve month high of $341.14. The company has a 50-day simple moving average of $287.71 and a 200 day simple moving average of $305.28.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Insider Activity at Air Products and Chemicals

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,842,604 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

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; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.