Investment Management Corp of Ontario Raises Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Investment Management Corp of Ontario lifted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 48.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,325 shares of the basic materials company's stock after buying an additional 2,400 shares during the period. Investment Management Corp of Ontario's holdings in Air Products and Chemicals were worth $2,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Air Products and Chemicals by 0.3% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company's stock worth $3,452,000 after purchasing an additional 34 shares during the period. CX Institutional raised its position in shares of 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 buying an additional 34 shares during the period. Bank of Stockton lifted its holdings in Air Products and Chemicals by 1.9% in the third 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 during the last quarter. Exchange Traded Concepts LLC grew its position in Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company's stock worth $60,000 after acquiring an additional 37 shares during the period. Finally, Chesapeake Wealth Management increased its stake in Air Products and Chemicals by 1.7% during the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company's stock worth $652,000 after acquiring an additional 37 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

APD stock traded down $5.51 on Thursday, hitting $321.97. The company's stock had a trading volume of 1,712,699 shares, compared to its average volume of 1,610,552. The firm has a 50 day moving average of $317.82 and a two-hundred day moving average of $287.66. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The stock has a market cap of $71.60 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.31 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.20%. Air Products and Chemicals's payout ratio is currently 41.21%.

Analyst Ratings Changes

APD has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target 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. Citigroup upped their price target 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. Redburn Atlantic raised 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. Barclays lifted their target price 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. Finally, JPMorgan Chase & Co. dropped 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. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.