Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 122,595 shares of the basic materials company’s stock after selling 2,217 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Air Products and Chemicals were worth $36,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in APD. Community Bank N.A. increased its holdings in shares of Air Products and Chemicals by 9.3% in the third quarter. Community Bank N.A. now owns 9,160 shares of the basic materials company’s stock valued at $2,727,000 after buying an additional 776 shares in the last quarter. Concentric Capital Strategies LP grew its holdings in shares of Air Products and Chemicals by 69.1% in the 3rd quarter. Concentric Capital Strategies LP now owns 12,192 shares of the basic materials company’s stock worth $3,630,000 after acquiring an additional 4,980 shares during the last quarter. Arrowroot Family Office LLC acquired a new stake in shares of Air Products and Chemicals during the third quarter worth $216,000. Benjamin Edwards Inc. lifted its holdings in shares of Air Products and Chemicals by 7,459.7% during the third quarter. Benjamin Edwards Inc. now owns 92,002 shares of the basic materials company’s stock valued at $27,398,000 after purchasing an additional 90,785 shares during the last quarter. Finally, TOMS Capital Investment Management LP acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $159,886,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on APD. JPMorgan Chase & Co. reduced their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research report on Monday, October 7th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets raised their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Stock Up 0.4 %

APD opened at $335.66 on Tuesday. The company has a market capitalization of $74.64 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $336.42. The business has a 50-day moving average of $315.16 and a 200-day moving average of $286.11.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is presently 41.21%.

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.