Confluence Investment Management LLC trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,515 shares of the basic materials company’s stock after selling 1,368 shares during the quarter. Confluence Investment Management LLC’s holdings in Air Products and Chemicals were worth $26,253,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in APD. Geode Capital Management LLC boosted its holdings in Air Products and Chemicals by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after buying an additional 88,806 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Air Products and Chemicals by 4.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock worth $790,371,000 after acquiring an additional 122,676 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after acquiring an additional 2,884,581 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after purchasing an additional 1,564,169 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after purchasing an additional 33,313 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $305.00 to $365.00 in a report on Monday, October 7th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday, October 7th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $295.00 to $364.00 in a report on Monday, October 7th. Finally, BMO Capital Markets lifted their price target 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. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $331.53.
Air Products and Chemicals Stock Down 0.7 %
NYSE APD traded down $1.93 during trading on Thursday, hitting $286.34. 161,675 shares of the company traded hands, compared to its average volume of 1,562,737. The company has a market capitalization of $63.68 billion, a P/E ratio of 16.67, a PEG ratio of 3.13 and a beta of 0.81. The business has a fifty day simple moving average of $313.53 and a 200 day simple moving average of $291.89. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month 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 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 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 2.47%. Air Products and Chemicals’s payout ratio is currently 41.21%.
About Air Products and Chemicals
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.
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