NFJ Investment Group LLC Sells 7,801 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

NFJ Investment Group LLC lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,640 shares of the basic materials company’s stock after selling 7,801 shares during the period. Air Products and Chemicals accounts for about 1.1% of NFJ Investment Group LLC’s investment portfolio, making the stock its 23rd biggest holding. NFJ Investment Group LLC owned approximately 0.06% of Air Products and Chemicals worth $36,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. IHT Wealth Management LLC lifted its position in Air Products and Chemicals by 13.1% during the third quarter. IHT Wealth Management LLC now owns 2,898 shares of the basic materials company’s stock valued at $861,000 after acquiring an additional 335 shares during the last quarter. Intrepid Capital Management Inc. purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $202,000. Integrated Wealth Concepts LLC grew its stake in Air Products and Chemicals by 1.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,315 shares of the basic materials company’s stock worth $1,285,000 after buying an additional 69 shares during the last quarter. Investment Management Corp of Ontario raised its stake in Air Products and Chemicals by 48.7% in the third quarter. Investment Management Corp of Ontario now owns 7,325 shares of the basic materials company’s stock valued at $2,181,000 after buying an additional 2,400 shares during the last quarter. Finally, Iron Gate Global Advisors LLC boosted its holdings in Air Products and Chemicals by 4.3% in the third quarter. Iron Gate Global Advisors LLC now owns 52,621 shares of the basic materials company’s stock worth $15,662,000 after acquiring an additional 2,146 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on APD shares. 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 report on Monday, November 18th. Wells Fargo & Company lifted their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Mizuho upped their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Price Performance

APD stock traded down $2.59 during trading on Tuesday, hitting $333.03. The stock had a trading volume of 93,029 shares, compared to its average volume of 1,606,891. The company’s 50-day moving average price is $315.16 and its two-hundred day moving average price is $286.11. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The stock has a market capitalization of $74.06 billion, a P/E ratio of 19.54, a PEG 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 Announces Dividend

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