Smith Salley Wealth Management Sells 76 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Smith Salley Wealth Management cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,176 shares of the basic materials company’s stock after selling 76 shares during the quarter. Smith Salley Wealth Management’s holdings in Air Products and Chemicals were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Financial Management Professionals Inc. raised its holdings in shares of Air Products and Chemicals by 11.4% during the fourth quarter. Financial Management Professionals Inc. now owns 1,605 shares of the basic materials company’s stock valued at $465,000 after acquiring an additional 164 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in shares of Air Products and Chemicals by 2.4% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 3,926 shares of the basic materials company’s stock worth $1,139,000 after purchasing an additional 91 shares during the period. Arkadios Wealth Advisors raised its stake in Air Products and Chemicals by 22.1% in the fourth quarter. Arkadios Wealth Advisors now owns 13,126 shares of the basic materials company’s stock worth $3,807,000 after buying an additional 2,377 shares in the last quarter. O Keefe Stevens Advisory Inc. lifted its holdings in Air Products and Chemicals by 37.5% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 2,597 shares of the basic materials company’s stock worth $753,000 after buying an additional 708 shares during the period. Finally, Somerset Trust Co boosted its position in Air Products and Chemicals by 3.1% during the 4th quarter. Somerset Trust Co now owns 12,217 shares of the basic materials company’s stock valued at $3,543,000 after acquiring an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 1.6 %

Air Products and Chemicals stock opened at $317.11 on Friday. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $337.00. The business’s fifty day moving average is $309.42 and its 200 day moving average is $294.10. The stock has a market capitalization of $70.52 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.23%. Air Products and Chemicals’s payout ratio is 41.21%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the company from $305.00 to $365.00 in a research note 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. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a research report on Monday, October 7th. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $332.71.

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.