Synovus Financial Corp Buys 2,995 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Synovus Financial Corp increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 85.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,514 shares of the basic materials company’s stock after purchasing an additional 2,995 shares during the period. Synovus Financial Corp’s holdings in Air Products and Chemicals were worth $1,939,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

APD has been the topic of a number of research analyst reports. Barclays increased their price objective on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Citigroup lifted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted 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 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 report on Monday, October 7th. Eight 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 an average price target of $331.53.

Air Products and Chemicals Stock Performance

APD opened at $312.30 on Monday. The firm has a market cap of $69.45 billion, a P/E ratio of 18.18, a PEG ratio of 3.13 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The company has a 50 day simple moving average of $320.55 and a two-hundred day simple moving average of $290.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be issued 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 yield of 2.27%. Air Products and Chemicals’s dividend payout ratio is presently 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.