Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC lifted its position in Air Products and Chemicals by 1.0% in the second quarter. New York Life Investment Management LLC now owns 33,949 shares of the basic materials company’s stock valued at $8,761,000 after purchasing an additional 326 shares during the period. Private Advisor Group LLC boosted its position in Air Products and Chemicals by 13.1% during the second quarter. Private Advisor Group LLC now owns 30,753 shares of the basic materials company’s stock worth $7,936,000 after purchasing an additional 3,554 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Air Products and Chemicals by 35.3% in the second quarter. Cullen Frost Bankers Inc. now owns 43,591 shares of the basic materials company’s stock valued at $11,249,000 after buying an additional 11,363 shares in the last quarter. Umpqua Bank raised its position in shares of Air Products and Chemicals by 3.1% during the 2nd quarter. Umpqua Bank now owns 6,396 shares of the basic materials company’s stock worth $1,650,000 after purchasing an additional 192 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Air Products and Chemicals during the second quarter valued at $2,600,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD stock traded down $0.80 on Monday, reaching $283.11. The stock had a trading volume of 1,437,114 shares, compared to its average volume of 1,129,903. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The firm has a market capitalization of $62.96 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 3.13 and a beta of 0.84. The firm’s 50-day moving average is $312.07 and its two-hundred day 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.

Air Products and Chemicals Announces Dividend

The firm 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 dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.50%. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday, November 18th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of 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. Finally, Vertical Research raised shares of 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. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

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.