Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 26.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 225,452 shares of the basic materials company’s stock after selling 80,944 shares during the quarter. Citigroup Inc. owned 0.10% of Air Products and Chemicals worth $67,126,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in Air Products and Chemicals by 4.4% during the third quarter. Raymond James Trust N.A. now owns 52,378 shares of the basic materials company’s stock worth $15,595,000 after acquiring an additional 2,211 shares during the last quarter. First County Bank CT increased its stake in shares of Air Products and Chemicals by 5.6% during the 3rd quarter. First County Bank CT now owns 901 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 48 shares in the last quarter. 49 Wealth Management LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at approximately $201,000. Eagle Asset Management Inc. grew its holdings in Air Products and Chemicals by 22.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 32,220 shares of the basic materials company’s stock valued at $10,085,000 after buying an additional 5,854 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Air Products and Chemicals by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,249,142 shares of the basic materials company’s stock worth $371,920,000 after buying an additional 14,077 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APD. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Mizuho boosted their price objective on shares of 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. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their price target on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Stock Up 0.9 %

Shares of Air Products and Chemicals stock opened at $331.83 on Friday. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.69. The stock has a market cap of $73.77 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 3.30 and a beta of 0.81. 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 company has a fifty day moving average price of $310.63 and a 200 day moving average price of $282.91.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a $1.77 dividend. 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 currently 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.