Zurcher Kantonalbank Zurich Cantonalbank Has $24.57 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,515 shares of the basic materials company’s stock after buying an additional 2,587 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Air Products and Chemicals were worth $24,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. National Bank of Canada FI increased its position in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after buying an additional 1,737,260 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after buying an additional 1,564,169 shares during the last quarter. ING Groep NV raised its holdings in Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after buying an additional 723,019 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in shares of Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after buying an additional 722,132 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APD. Vertical Research raised 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 note on Monday, October 7th. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $295.00 to $364.00 in a report 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 target price for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Finally, Barclays upped 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 report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Stock Up 0.4 %

APD opened at $334.48 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $336.42. The company has a market capitalization of $74.38 billion, a P/E ratio of 19.47, a P/E/G ratio of 3.34 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. The firm’s fifty day moving average price is $315.16 and its two-hundred day moving average price is $285.61.

Air Products and Chemicals Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.12%. Air Products and Chemicals’s payout ratio 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.