Citigroup Inc. Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Citigroup Inc. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 26.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 225,452 shares of the basic materials company’s stock after selling 80,944 shares during the period. Citigroup Inc.’s holdings in Air Products and Chemicals were worth $67,126,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC grew its stake in Air Products and Chemicals by 72.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 1,428 shares of the basic materials company’s stock valued at $346,000 after purchasing an additional 602 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1.9% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 5,653 shares of the basic materials company’s stock valued at $1,369,000 after buying an additional 104 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Air Products and Chemicals during the first quarter worth approximately $281,000. Iron Gate Global Advisors LLC bought a new stake in shares of Air Products and Chemicals in the first quarter worth $11,310,000. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Air Products and Chemicals by 25.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,799 shares of the basic materials company’s stock valued at $436,000 after acquiring an additional 364 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APD. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a research report on Monday, October 7th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. reduced their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Finally, The Goldman Sachs Group raised their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $331.83 on Friday. The firm’s 50-day simple moving average is $310.63 and its 200 day simple moving average is $282.91. The stock has a market cap of $73.77 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.30 and a beta of 0.81. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.69.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.13%. Air Products and Chemicals’s dividend payout ratio (DPR) 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.