Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Dearborn Partners LLC

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

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its position in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after purchasing an additional 4,309,040 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position 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 worth $790,371,000 after buying an additional 122,676 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of 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 worth $861,722,000 after buying an additional 2,884,581 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 valued at $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. Finally, Raymond James & Associates raised its position in Air Products and Chemicals by 1.7% during the third 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.

Air Products and Chemicals Price Performance

APD opened at $315.88 on Friday. The company has a 50 day moving average of $303.74 and a two-hundred day moving average of $278.86. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week 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 company has a market cap of $70.22 billion, a P/E ratio of 18.39, a P/E/G ratio of 3.14 and a beta of 0.81.

Analyst Ratings Changes

Several analysts have recently commented on APD shares. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a research report on Monday, October 7th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Nine equities 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $329.76.

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.