Sanibel Captiva Trust Company Inc. Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Sanibel Captiva Trust Company Inc. increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,926 shares of the basic materials company’s stock after buying an additional 91 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Air Products and Chemicals were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional increased its stake in shares of 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 worth $400,000 after acquiring an additional 34 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Air Products and Chemicals by 0.3% during the 3rd 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 period. Bank of Stockton raised its stake in shares of 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 valued at $540,000 after buying an additional 34 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings 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 buying an additional 37 shares during the period. Finally, Chesapeake Wealth Management boosted its stake in shares of Air Products and Chemicals by 1.7% in the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock worth $652,000 after buying an additional 37 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of several recent research reports. Vertical Research upgraded 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. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Mizuho raised 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, Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $332.71.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $317.11 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The stock has a market cap of $70.52 billion, a P/E ratio of 18.46, a PEG ratio of 2.88 and a beta of 0.84. The company has a 50-day moving average price of $309.42 and a 200 day moving average price of $294.10. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00.

Air Products and Chemicals Dividend Announcement

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 $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a yield of 2.23%. Air Products and Chemicals’s payout ratio is 41.21%.

Air Products and Chemicals Company 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.