M.D. Sass LLC Has $32.12 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

M.D. Sass LLC trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 17.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,887 shares of the basic materials company’s stock after selling 22,689 shares during the period. Air Products and Chemicals accounts for about 2.4% of M.D. Sass LLC’s portfolio, making the stock its 19th biggest holding. M.D. Sass LLC’s holdings in Air Products and Chemicals were worth $32,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in APD. Principal Street Partners LLC boosted its holdings in shares of Air Products and Chemicals by 96.5% during the 3rd quarter. Principal Street Partners LLC now owns 2,175 shares of the basic materials company’s stock worth $648,000 after buying an additional 1,068 shares during the period. Avestar Capital LLC lifted its position in Air Products and Chemicals by 8.0% during the third quarter. Avestar Capital LLC now owns 1,068 shares of the basic materials company’s stock worth $318,000 after acquiring an additional 79 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Air Products and Chemicals by 3.0% during the third quarter. D.A. Davidson & CO. now owns 16,844 shares of the basic materials company’s stock worth $5,015,000 after acquiring an additional 498 shares during the period. Bank of Montreal Can grew its position in shares of Air Products and Chemicals by 25.2% in the third quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock valued at $350,139,000 after purchasing an additional 234,322 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals during the third quarter worth approximately $25,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APD has been the topic of a number of research reports. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the company from $295.00 to $364.00 in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research note on Friday, October 25th. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, 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 company from $305.00 to $365.00 in a research report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Price Performance

Shares of APD traded down $3.43 during mid-day trading on Tuesday, reaching $330.54. The company had a trading volume of 68,202 shares, compared to its average volume of 1,614,652. The company has a market capitalization of $73.51 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 3.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The company’s 50 day simple moving average is $311.53 and its 200 day simple moving average is $283.75. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $336.42.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.14%. Air Products and Chemicals’s payout ratio is presently 41.21%.

Air Products and Chemicals Company 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.