Associated Banc Corp Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Associated Banc Corp decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,276 shares of the basic materials company’s stock after selling 153 shares during the quarter. Associated Banc Corp’s holdings in Air Products and Chemicals were worth $31,345,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

APD has been the topic of a number of analyst reports. BMO Capital Markets increased their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $364.00 in a report on Monday, October 7th. The Goldman Sachs Group lifted their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Stock Performance

APD traded up $1.72 during trading on Monday, reaching $333.55. 32,100 shares of the company were exchanged, compared to its average volume of 1,610,108. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The stock has a market cap of $74.17 billion, a P/E ratio of 19.31, a PEG ratio of 3.33 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $335.06. The firm has a 50 day moving average of $310.63 and a 200 day moving average of $283.16.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.12%. Air Products and Chemicals’s dividend payout ratio is currently 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.