Everence Capital Management Inc. Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Everence Capital Management Inc. reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,877 shares of the basic materials company’s stock after selling 1,010 shares during the period. Everence Capital Management Inc.’s holdings in Air Products and Chemicals were worth $1,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of APD. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals during the 3rd quarter worth about $25,000. Iron Horse Wealth Management LLC lifted its stake in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals in the second quarter valued at approximately $32,000. Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals in the third quarter valued at approximately $42,000. Finally, Trifecta Capital Advisors LLC raised its holdings in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Citigroup raised their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. BMO Capital Markets boosted their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Stock Performance

NYSE APD opened at $283.91 on Friday. 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 business’s 50 day moving average is $312.75 and its two-hundred day moving average is $291.83. The stock has a market capitalization of $63.14 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.13 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is 41.21%.

About Air Products and Chemicals

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.