Crescent Sterling Ltd. Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Crescent Sterling Ltd. lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,973 shares of the basic materials company’s stock after selling 126 shares during the quarter. Air Products and Chemicals accounts for about 2.4% of Crescent Sterling Ltd.’s portfolio, making the stock its 15th largest position. Crescent Sterling Ltd.’s holdings in Air Products and Chemicals were worth $2,312,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in APD. Clark & Stuart Inc bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $4,146,000. Czech National Bank raised its position in shares of Air Products and Chemicals by 6.4% during the 4th quarter. Czech National Bank now owns 48,203 shares of the basic materials company’s stock valued at $13,981,000 after acquiring an additional 2,916 shares in the last quarter. Graypoint LLC lifted its stake in Air Products and Chemicals by 9.5% during the fourth quarter. Graypoint LLC now owns 1,511 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 131 shares during the last quarter. Sage Capital Advisors llc boosted its holdings in Air Products and Chemicals by 0.3% in the fourth quarter. Sage Capital Advisors llc now owns 14,732 shares of the basic materials company’s stock worth $4,273,000 after purchasing an additional 39 shares during the period. Finally, LVM Capital Management Ltd. MI increased its stake in Air Products and Chemicals by 5.6% during the fourth quarter. LVM Capital Management Ltd. MI now owns 1,132 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 60 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APD has been the topic of a number of recent research reports. 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. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Mizuho upped their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Citigroup raised their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Up 2.7 %

APD stock opened at $292.88 on Monday. The firm’s 50-day moving average is $309.41 and its two-hundred day moving average is $292.76. The company has a market capitalization of $65.13 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a $1.77 dividend. 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 2.42%. Air Products and Chemicals’s dividend payout ratio (DPR) is 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.