1ST Source Bank Cuts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

1ST Source Bank lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,294 shares of the basic materials company’s stock after selling 496 shares during the period. 1ST Source Bank’s holdings in Air Products and Chemicals were worth $2,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Air Products and Chemicals by 0.3% during the 3rd 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 in the last quarter. CX Institutional grew its stake in Air Products and Chemicals by 2.6% during the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after acquiring an additional 34 shares in the last quarter. Bank of Stockton grew its stake in Air Products and Chemicals by 1.9% during the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after acquiring an additional 34 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in 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 acquiring an additional 37 shares in the last quarter. Finally, Chesapeake Wealth Management grew its stake in Air Products and Chemicals by 1.7% during the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.9 %

Shares of NYSE:APD traded down $2.79 during trading hours on Friday, reaching $308.10. The stock had a trading volume of 118,161 shares, compared to its average volume of 1,589,476. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm’s 50 day moving average is $320.02 and its 200-day moving average is $289.41. The stock has a market capitalization of $68.52 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 3.13 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. decreased their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Barclays boosted their target price 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. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Monday, November 18th. Finally, Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.