Syntax Research Inc. Sells 2,944 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Syntax Research Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 22.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,222 shares of the basic materials company’s stock after selling 2,944 shares during the quarter. Air Products and Chemicals comprises approximately 2.1% of Syntax Research Inc.’s holdings, making the stock its 21st largest position. Syntax Research Inc.’s holdings in Air Products and Chemicals were worth $3,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in shares of Air Products and Chemicals in the third quarter worth $25,000. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals in the 2nd quarter worth about $32,000. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC increased its stake in Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals in the third quarter worth about $42,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on APD. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a report on Monday, November 18th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a research note on Monday, October 7th. Barclays boosted their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a report on Friday, October 25th. Finally, Mizuho lifted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Trading Down 0.7 %

Shares of NYSE APD opened at $304.70 on Wednesday. The business’s 50 day moving average price is $320.32 and its 200-day moving average price is $290.72. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $337.00. 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 has a market cap of $67.76 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.13 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

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.