Raymond James Trust N.A. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 35,383 shares of the basic materials company’s stock after selling 3,202 shares during the period. Raymond James Trust N.A.’s holdings in Air Products and Chemicals were worth $9,667,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Advisory Alpha LLC purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $29,000. Adams Wealth Management purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $30,000. Baron Financial Group LLC purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $30,000. Finally, Crewe Advisors LLC purchased a new position in shares of Air Products and Chemicals during the third quarter worth approximately $31,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. Evercore ISI assumed coverage on shares of Air Products and Chemicals in a research note on Monday, September 21st. They set an “outperform” rating on the stock. Wells Fargo & Company cut their target price on shares of Air Products and Chemicals from $340.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, November 12th. Jefferies Financial Group cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and raised their target price for the stock from $307.00 to $324.00 in a report on Thursday, January 7th. Zacks Investment Research upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $297.00 target price on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Air Products and Chemicals from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Wednesday, December 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $295.20.

NYSE:APD traded up $7.61 during trading hours on Wednesday, hitting $290.67. The company had a trading volume of 1,601,510 shares, compared to its average volume of 1,360,926. The company has a market capitalization of $64.25 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.61 and a beta of 0.76. The stock has a 50-day moving average price of $273.56 and a 200 day moving average price of $283.37. Air Products and Chemicals, Inc. has a 52 week low of $167.43 and a 52 week high of $327.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.59 and a quick ratio of 3.43.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Monday, November 16th. The basic materials company reported $2.19 EPS for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.02). The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.27 billion. Air Products and Chemicals had a net margin of 21.30% and a return on equity of 15.48%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. Analysts anticipate that Air Products and Chemicals, Inc. will post 9.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, December 31st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.96%.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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