Canandaigua National Bank & Trust Co. Sells 296 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Canandaigua National Bank & Trust Co. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 8,377 shares of the basic materials company’s stock after selling 296 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $2,430,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in APD. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake 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 acquiring an additional 34 shares during the last quarter. CX Institutional raised its stake in Air Products and Chemicals by 2.6% during 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 in the last quarter. Bank of Stockton lifted its holdings in shares of Air Products and Chemicals by 1.9% in the third 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 grew its holdings in shares of Air Products and Chemicals by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares during the last quarter. Finally, Chesapeake Wealth Management boosted its position in 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 valued at $652,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on APD shares. JPMorgan Chase & Co. lowered their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Barclays raised their price target on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their target price 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. 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 research report on Monday, October 7th. Finally, Citigroup raised their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Price Performance

NYSE:APD traded down $0.80 during trading hours on Monday, hitting $283.11. 1,437,114 shares of the company’s stock traded hands, compared to its average volume of 1,129,903. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. The business’s fifty day simple moving average is $312.07 and its two-hundred day simple moving average is $292.15. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The firm has a market cap of $62.96 billion, a P/E ratio of 16.48, a P/E/G ratio of 3.13 and a beta of 0.84.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is 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.