Renaissance Investment Group LLC Sells 1,072 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Renaissance Investment Group LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 21.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,861 shares of the basic materials company’s stock after selling 1,072 shares during the period. Renaissance Investment Group LLC’s holdings in Air Products and Chemicals were worth $1,120,000 as of its most recent SEC filing.

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

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $317.11 on Friday. The business has a 50-day simple moving average of $309.42 and a 200 day simple moving average of $294.10. The firm has a market capitalization of $70.52 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.88 and a beta of 0.84. 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 one year low of $212.24 and a one year high of $337.00.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is 41.21%.

Analysts Set New Price Targets

Several analysts recently weighed in on APD shares. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $305.00 to $365.00 in a report on Monday, October 7th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research note on Monday, November 18th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a research report on Monday, October 7th. Finally, Citigroup raised their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $332.71.

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.