Sumitomo Life Insurance Co. Sells 82 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sumitomo Life Insurance Co. cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,367 shares of the basic materials company’s stock after selling 82 shares during the period. Sumitomo Life Insurance Co.’s holdings in Air Products and Chemicals were worth $687,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in APD. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of Air Products and Chemicals by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after acquiring an additional 34 shares during the last quarter. CX Institutional boosted its stake in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 34 shares during the period. 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 worth $540,000 after purchasing an additional 34 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of 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 buying an additional 37 shares during the period. Finally, Chesapeake Wealth Management raised its holdings in Air Products and Chemicals by 1.7% during the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after buying an additional 37 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 2.4 %

Shares of NYSE:APD opened at $335.10 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. The stock’s fifty day moving average price is $310.09 and its 200-day moving average price is $298.21. The company has a market cap of $74.52 billion, a P/E ratio of 19.51, a PEG ratio of 3.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.14%. Air Products and Chemicals’s payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Monday. Citigroup boosted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Finally, Mizuho lifted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $338.47.

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.