Calamos Advisors LLC Cuts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Calamos Advisors LLC trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 64,005 shares of the basic materials company’s stock after selling 836 shares during the period. Calamos Advisors LLC’s holdings in Air Products and Chemicals were worth $17,525,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Morgan Stanley grew its position in Air Products and Chemicals by 26.0% during the 4th quarter. Morgan Stanley now owns 5,414,008 shares of the basic materials company’s stock valued at $1,668,923,000 after purchasing an additional 1,115,729 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Air Products and Chemicals by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 4,163,043 shares of the basic materials company’s stock valued at $1,246,957,000 after acquiring an additional 38,283 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Air Products and Chemicals by 1.0% during the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after acquiring an additional 39,215 shares during the last quarter. Norges Bank purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $962,356,000. Finally, Raymond James & Associates boosted its holdings in shares of Air Products and Chemicals by 3.6% during the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after acquiring an additional 66,906 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock traded up $1.80 during mid-day trading on Friday, hitting $234.82. The company had a trading volume of 129,159 shares, compared to its average volume of 1,724,701. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company’s fifty day moving average is $235.64 and its 200-day moving average is $257.80. The company has a market capitalization of $52.20 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 2.52 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the company earned $2.64 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 1st will be issued a $1.77 dividend. The ex-dividend date is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a yield of 3.02%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Sunday, April 14th. UBS Group cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. Wolfe Research started coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price for the company. Morgan Stanley cut their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $276.36.

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.