iA Global Asset Management Inc. Reduces Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

iA Global Asset Management Inc. cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 95.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,751 shares of the basic materials company's stock after selling 34,626 shares during the quarter. iA Global Asset Management Inc.'s holdings in Air Products and Chemicals were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in Air Products and Chemicals in the third quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the 2nd quarter worth approximately $32,000. Iron Horse Wealth Management LLC lifted its stake in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC grew its holdings in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 136 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals in the third quarter worth $42,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

APD has been the topic of several recent research reports. Redburn Atlantic raised shares of Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 price objective on the stock in a report on Friday, October 25th. BMO Capital Markets raised their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Barclays lifted their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Citigroup raised their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, UBS Group raised shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price target on the stock in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $331.53.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $1.45 during trading hours on Tuesday, reaching $315.17. 742,131 shares of the stock traded hands, compared to its average volume of 1,602,764. The company has a market capitalization of $70.09 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. The company's 50-day simple moving average is $318.59 and its two-hundred day simple moving average is $288.74. 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, Inc. has a 52-week low of $212.24 and a 52-week high of $337.00.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. Air Products and Chemicals's dividend payout ratio (DPR) is 41.21%.

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.