Synovus Financial Corp Purchases 2,995 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Synovus Financial Corp boosted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 85.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,514 shares of the basic materials company's stock after purchasing an additional 2,995 shares during the period. Synovus Financial Corp's holdings in Air Products and Chemicals were worth $1,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its holdings in Air Products and Chemicals by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company's stock valued at $1,448,570,000 after buying an additional 88,806 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Air Products and Chemicals by 4.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company's stock valued at $790,371,000 after buying an additional 122,676 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock valued at $861,722,000 after buying an additional 2,884,581 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company's stock worth $720,597,000 after purchasing an additional 1,564,169 shares in the last quarter. Finally, Raymond James & Associates grew its position in Air Products and Chemicals by 1.7% during the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company's stock worth $608,312,000 after acquiring an additional 33,313 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APD. StockNews.com raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. Vertical Research upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and set a $336.00 price objective on the stock in a report on Monday, October 7th. Citigroup increased their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 price target for the company in a research note on Friday, October 25th. Finally, Jefferies Financial Group upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and raised their price objective for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and a consensus target price of $331.53.

Air Products and Chemicals Trading Down 1.8 %

Shares of APD traded down $5.55 during mid-day trading on Monday, reaching $306.75. The company's stock had a trading volume of 984,847 shares, compared to its average volume of 1,590,823. The stock has a market cap of $68.22 billion, a PE ratio of 18.18, a P/E/G ratio of 3.13 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. The company's fifty day moving average price is $320.55 and its two-hundred day moving average price is $290.13. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given 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 2.31%. Air Products and Chemicals's payout ratio is currently 41.21%.

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.