Syntax Research Inc. Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Syntax Research Inc. trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,222 shares of the basic materials company's stock after selling 2,944 shares during the quarter. Air Products and Chemicals comprises about 2.1% of Syntax Research Inc.'s holdings, making the stock its 21st biggest position. Syntax Research Inc.'s holdings in Air Products and Chemicals were worth $3,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Forsta AP Fonden lifted its position in Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company's stock valued at $13,607,000 after acquiring an additional 5,400 shares in the last quarter. Jensen Investment Management Inc. lifted its stake in Air Products and Chemicals by 65.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company's stock valued at $3,921,000 after acquiring an additional 5,190 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of Air Products and Chemicals by 1,205.1% in the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company's stock worth $11,440,000 after acquiring an additional 35,479 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Air Products and Chemicals by 3.9% in the third quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company's stock valued at $13,297,000 after purchasing an additional 1,662 shares during the last quarter. Finally, Woodstock Corp raised its holdings in shares of Air Products and Chemicals by 6.5% in the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company's stock valued at $11,605,000 after purchasing an additional 2,387 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APD. UBS Group raised shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price objective for the company in a research report on Monday, November 18th. Citigroup increased their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. Mizuho increased their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. Finally, Barclays increased 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 research report on Friday, November 8th. Eight 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 presently has an average rating of "Moderate Buy" and an average target price of $331.53.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $9.40 during midday trading on Wednesday, hitting $295.31. 1,043,101 shares of the company's stock were exchanged, compared to its average volume of 1,585,848. The business's fifty day moving average price is $320.32 and its two-hundred day moving average price is $290.72. The company has a market cap of $65.67 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 3.13 and a beta of 0.81. 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, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals's payout ratio 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.