Nordea Investment Management AB Sells 359,251 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Nordea Investment Management AB decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 73.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 127,342 shares of the basic materials company’s stock after selling 359,251 shares during the quarter. Nordea Investment Management AB’s holdings in Air Products and Chemicals were worth $36,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Air Products and Chemicals by 0.3% in the third 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 period. CX Institutional boosted its holdings in Air Products and Chemicals by 2.6% in the 3rd 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 position in Air Products and Chemicals by 1.9% in the 3rd 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 holdings in shares of Air Products and Chemicals by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 37 shares during the period. Finally, Chesapeake Wealth Management lifted its stake in shares of Air Products and Chemicals by 1.7% in the third 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 period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.2 %

Shares of NYSE APD opened at $286.66 on Wednesday. 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 capitalization of $63.75 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84. The firm’s 50-day moving average is $310.79 and its 200-day moving average is $292.33. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.47%. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Analyst Ratings Changes

Several research firms have commented on APD. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Citigroup increased their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays lifted their target price on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.53.

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.