Cardinal Capital Management Inc. Sells 1,332 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cardinal Capital Management Inc. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,220 shares of the basic materials company’s stock after selling 1,332 shares during the period. Air Products and Chemicals accounts for 1.2% of Cardinal Capital Management Inc.’s portfolio, making the stock its 27th biggest holding. Cardinal Capital Management Inc.’s holdings in Air Products and Chemicals were worth $34,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of APD. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of Air Products and Chemicals by 0.3% in 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 buying an additional 34 shares in the last quarter. CX Institutional boosted 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 acquiring an additional 34 shares during the last quarter. Bank of Stockton grew its holdings in shares of 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 purchasing an additional 34 shares in the last quarter. Exchange Traded Concepts LLC increased 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 purchasing an additional 37 shares during the last quarter. Finally, Chesapeake Wealth Management raised 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 valued at $652,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on APD. Barclays lifted their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $330.00 to $350.00 in a research report on Tuesday, January 14th. Citigroup raised 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. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price target on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $332.71.

Air Products and Chemicals Stock Down 0.9 %

APD stock opened at $316.87 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The firm’s fifty day simple moving average is $309.74 and its 200-day simple moving average is $295.76. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a market capitalization of $70.46 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 3.18 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.26%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Air Products and Chemicals Company 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.