OLD National Bancorp IN Sells 1,591 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

OLD National Bancorp IN reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,763 shares of the basic materials company’s stock after selling 1,591 shares during the period. OLD National Bancorp IN’s holdings in Air Products and Chemicals were worth $1,671,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Milestone Asset Management LLC lifted its holdings in shares of Air Products and Chemicals by 2.7% in the 4th quarter. Milestone Asset Management LLC now owns 2,181 shares of the basic materials company’s stock worth $633,000 after purchasing an additional 57 shares in the last quarter. Hanson & Doremus Investment Management lifted its holdings in shares of Air Products and Chemicals by 5.8% in the 4th quarter. Hanson & Doremus Investment Management now owns 3,924 shares of the basic materials company’s stock worth $1,138,000 after purchasing an additional 216 shares in the last quarter. Invesco LLC lifted its holdings in shares of Air Products and Chemicals by 8.3% in the 4th quarter. Invesco LLC now owns 1,741 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 134 shares in the last quarter. Swedbank AB raised its position in Air Products and Chemicals by 5.6% in the 4th quarter. Swedbank AB now owns 71,671 shares of the basic materials company’s stock valued at $20,787,000 after buying an additional 3,830 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in Air Products and Chemicals by 3.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 4,121 shares of the basic materials company’s stock valued at $1,195,000 after buying an additional 121 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Up 2.4 %

Shares of NYSE APD opened at $335.10 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. The business has a 50-day simple moving average of $310.09 and a two-hundred day simple moving average of $298.21. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The company has a market cap of $74.52 billion, a P/E ratio of 19.51, a P/E/G ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.14%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their price target for the company from $305.00 to $365.00 in a research report on Monday, October 7th. Citigroup increased their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. UBS Group raised their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $330.00 to $350.00 in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $338.47.

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.