Peapack Gladstone Financial Corp Sells 3,220 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Peapack Gladstone Financial Corp lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 126,017 shares of the basic materials company’s stock after selling 3,220 shares during the quarter. Peapack Gladstone Financial Corp owned about 0.06% of Air Products and Chemicals worth $37,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APD. Pathway Financial Advisers LLC raised its stake in Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares during the period. National Bank of Canada FI raised its stake in Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after purchasing an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA raised its stake 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 purchasing an additional 1,564,169 shares during the period. ING Groep NV raised its stake in Air Products and Chemicals by 240.7% during the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after purchasing an additional 723,019 shares during the period. Finally, Mizuho Markets Americas LLC raised its stake in Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after purchasing an additional 722,132 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho lifted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Finally, 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 note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Price Performance

APD opened at $310.77 on Friday. The business has a fifty day moving average of $320.02 and a 200 day moving average of $289.41. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $337.00. 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 stock has a market cap of $69.11 billion, a P/E ratio of 18.09, a PEG ratio of 3.13 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders 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 2.28%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend 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.