Penserra Capital Management LLC Cuts Position in Air Products and Chemicals, Inc. (NYSE:APD)

Penserra Capital Management LLC lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,853 shares of the basic materials company’s stock after selling 653 shares during the quarter. Penserra Capital Management LLC’s holdings in Air Products and Chemicals were worth $849,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Air Products and Chemicals by 4.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock valued at $790,371,000 after buying an additional 122,676 shares in the last quarter. Pathway Financial Advisers LLC raised its position in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after acquiring an additional 2,884,581 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $720,597,000 after purchasing an additional 1,564,169 shares in the last quarter. Raymond James & Associates grew its position in shares of Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after purchasing an additional 33,313 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Air Products and Chemicals by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after purchasing an additional 5,140 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $333.20 on Thursday. The business’s fifty day simple moving average is $313.32 and its 200-day simple moving average is $284.69. 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 $74.10 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $336.42.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders 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 2.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. UBS Group upgraded 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 report on Monday, November 18th. 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 report on Monday, October 7th. 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, Mizuho increased their target price 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. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average target price of $331.53.

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.