Fifth Third Bancorp Sells 3,780 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Fifth Third Bancorp decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 150,179 shares of the basic materials company’s stock after selling 3,780 shares during the quarter. Fifth Third Bancorp owned 0.07% of Air Products and Chemicals worth $43,558,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after buying an additional 139,223 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $7,269,000. Forsta AP Fonden grew its holdings in Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after purchasing an additional 5,400 shares during the period. Diversify Wealth Management LLC raised its stake in Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock valued at $3,074,000 after buying an additional 4,916 shares during the period. Finally, Jensen Investment Management Inc. increased its holdings in shares of Air Products and Chemicals by 65.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after acquiring an additional 5,190 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APD has been the topic of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of 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. Citigroup increased their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a research report on Friday, October 25th. Mizuho boosted their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $335.65.

Air Products and Chemicals Stock Up 1.6 %

APD opened at $329.29 on Friday. The company has a 50 day moving average of $309.89 and a 200 day moving average of $295.96. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a market cap of $73.23 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.16 and a beta of 0.84. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.17%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. 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.