Glenmede Trust Co. NA Sells 4,412 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Glenmede Trust Co. NA cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 112,279 shares of the basic materials company’s stock after selling 4,412 shares during the period. Glenmede Trust Co. NA’s holdings in Air Products and Chemicals were worth $33,430,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Forsta AP Fonden grew its stake 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 worth $13,607,000 after acquiring an additional 5,400 shares in the last quarter. Jensen Investment Management Inc. increased its holdings 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 worth $3,921,000 after purchasing an additional 5,190 shares during the period. Woodstock Corp raised its position in Air Products and Chemicals by 6.5% during the 3rd 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 in the last quarter. Impax Asset Management Group plc purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter worth $3,234,000. Finally, ZWJ Investment Counsel Inc. grew its position in shares of Air Products and Chemicals by 33.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock worth $15,217,000 after buying an additional 12,925 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APD. The Goldman Sachs Group increased their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the stock from $295.00 to $364.00 in a report on Monday, October 7th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Monday, November 18th. Finally, Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Stock Down 0.5 %

Shares of APD opened at $333.20 on Thursday. 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 firm has a market cap of $74.10 billion, a P/E ratio of 19.39, a PEG ratio of 3.35 and a beta of 0.81. The stock’s 50 day moving average is $313.32 and its two-hundred day moving average is $284.69. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $336.42.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is presently 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.