Griffin Asset Management Inc. Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Griffin Asset Management Inc. trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,037 shares of the basic materials company’s stock after selling 935 shares during the period. Air Products and Chemicals makes up approximately 1.4% of Griffin Asset Management Inc.’s holdings, making the stock its 18th largest position. Griffin Asset Management Inc.’s holdings in Air Products and Chemicals were worth $11,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APD. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals in the third quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its stake in Air Products and Chemicals by 69.4% during 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 period. Iron Horse Wealth Management LLC increased its stake in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Air Products and Chemicals by 58.8% in the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after buying an additional 50 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter worth $42,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $326.61 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The company has a market capitalization of $72.63 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 3.16 and a beta of 0.84. The company’s 50 day simple moving average is $310.14 and its 200-day simple moving average is $297.05. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Wall Street Analyst Weigh In

APD has been the topic of several research analyst reports. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $315.00 to $365.00 in a report on Friday. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a report on Friday, October 25th. Citigroup upped their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $295.00 to $364.00 in a report on Monday, October 7th. Finally, BMO Capital Markets upped their price target on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $337.88.

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.