Cardinal Capital Management Inc. Sells 1,332 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cardinal Capital Management Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,220 shares of the basic materials company’s stock after selling 1,332 shares during the quarter. Air Products and Chemicals comprises approximately 1.2% of Cardinal Capital Management Inc.’s portfolio, making the stock its 27th biggest holding. Cardinal Capital Management Inc. owned approximately 0.05% of Air Products and Chemicals worth $34,289,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its holdings in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Mutual Advisors LLC increased its holdings in Air Products and Chemicals by 4.3% during the 4th quarter. Mutual Advisors LLC now owns 3,518 shares of the basic materials company’s stock valued at $1,098,000 after purchasing an additional 145 shares during the period. Olistico Wealth LLC raised its position in Air Products and Chemicals by 9.2% during the 4th quarter. Olistico Wealth LLC now owns 1,190 shares of the basic materials company’s stock valued at $345,000 after purchasing an additional 100 shares during the last quarter. True North Advisors LLC increased its stake in shares of Air Products and Chemicals by 5.3% during the fourth quarter. True North Advisors LLC now owns 4,401 shares of the basic materials company’s stock valued at $1,276,000 after buying an additional 221 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after acquiring an additional 6,952 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on APD shares. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Barclays raised 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. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their target price for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Finally, Mizuho boosted their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $332.71.

Air Products and Chemicals Price Performance

Shares of APD opened at $316.87 on Thursday. The firm has a fifty day simple moving average of $309.74 and a two-hundred day simple moving average of $295.76. The firm has a market cap of $70.46 billion, a PE ratio of 18.44, a P/E/G ratio of 3.18 and a beta of 0.84. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.26%. 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.