Kestra Investment Management LLC Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Kestra Investment Management LLC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,331 shares of the basic materials company’s stock, valued at approximately $992,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Air Products and Chemicals during the 3rd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in Air Products and Chemicals in the second quarter worth about $32,000. Iron Horse Wealth Management LLC increased its stake in Air Products and Chemicals by 88.7% during the 3rd 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 during the period. Trifecta Capital Advisors LLC raised its position 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 in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Air Products and Chemicals in the 3rd quarter worth approximately $42,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Price Performance

NYSE APD opened at $334.33 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The firm has a market capitalization of $74.35 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81. The company has a 50 day simple moving average of $315.16 and a 200-day simple moving average of $286.11. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $336.42.

Air Products and Chemicals Dividend Announcement

The business 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 2.12%. Air Products and Chemicals’s payout ratio is 41.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APD shares. The Goldman Sachs Group boosted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Citigroup upped their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Finally, Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and an average target price of $331.53.

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.