Dearborn Partners LLC Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Dearborn Partners LLC lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,600 shares of the basic materials company's stock after selling 2,279 shares during the quarter. Dearborn Partners LLC's holdings in Air Products and Chemicals were worth $8,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APD. Dorsey & Whitney Trust CO LLC boosted its position in shares of Air Products and Chemicals by 9.0% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,817 shares of the basic materials company's stock valued at $1,167,000 after acquiring an additional 396 shares during the last quarter. Great Lakes Retirement Inc. increased its position in Air Products and Chemicals by 19.9% during the first quarter. Great Lakes Retirement Inc. now owns 989 shares of the basic materials company's stock valued at $240,000 after acquiring an additional 164 shares during the last quarter. M&G Plc bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth about $15,825,000. Mizuho Markets Americas LLC boosted its stake in shares of Air Products and Chemicals by 140.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 39,164 shares of the basic materials company's stock worth $9,488,000 after purchasing an additional 22,850 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Air Products and Chemicals by 33.5% in the first quarter. Intech Investment Management LLC now owns 146,240 shares of the basic materials company's stock worth $35,430,000 after purchasing an additional 36,684 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Up 0.3 %

Shares of NYSE:APD traded up $0.99 during midday trading on Friday, reaching $316.87. The company's stock had a trading volume of 579,837 shares, compared to its average volume of 1,607,649. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.42. 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 50 day moving average of $304.59 and a 200-day moving average of $279.11. The firm has a market capitalization of $70.44 billion, a P/E ratio of 18.34, a PEG ratio of 3.14 and a beta of 0.81.

Analyst Ratings Changes

APD has been the subject of a number of recent analyst reports. Mizuho boosted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, October 9th. Jefferies Financial Group upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and raised their price objective for the company from $295.00 to $364.00 in a report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Redburn Atlantic upgraded Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 target price on the stock in a research note on Friday, October 25th. Finally, StockNews.com raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $329.76.

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.