Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,640 shares of the basic materials company’s stock after selling 7,801 shares during the quarter. Air Products and Chemicals comprises approximately 1.1% of NFJ Investment Group LLC’s investment portfolio, making the stock its 23rd biggest position. NFJ Investment Group LLC’s holdings in Air Products and Chemicals were worth $36,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in Air Products and Chemicals by 0.3% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after purchasing an additional 34 shares during the period. CX Institutional lifted its position in Air Products and Chemicals by 2.6% in the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after buying an additional 34 shares during the last quarter. Bank of Stockton boosted its stake in Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after buying an additional 34 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 37 shares during the period. Finally, Chesapeake Wealth Management lifted its holdings in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock worth $652,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a research note on Monday, November 18th. Barclays upped their price objective on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Down 0.8 %

NYSE:APD traded down $2.59 during midday trading on Tuesday, hitting $333.03. 93,029 shares of the company were exchanged, compared to its average volume of 1,606,891. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $337.00. The company has a market capitalization of $74.06 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 fifty day simple moving average of $315.16 and a 200 day simple moving average of $286.11.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.13%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

About Air Products and Chemicals

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.