Highland Capital Management LLC Sells 330 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Highland Capital Management LLC trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,416 shares of the basic materials company’s stock after selling 330 shares during the period. Highland Capital Management LLC’s holdings in Air Products and Chemicals were worth $4,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in APD. Truvestments Capital LLC bought a new position in Air Products and Chemicals during the third quarter worth $25,000. Raleigh Capital Management Inc. grew its stake in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Iron Horse Wealth Management LLC raised its holdings in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 55 shares during the period. Fortitude Family Office LLC lifted its position in Air Products and Chemicals by 58.8% during the fourth quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 50 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $42,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APD. UBS Group boosted their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research note on Monday, October 7th. Citigroup boosted their price objective 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 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, 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 research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $338.47.

Air Products and Chemicals Trading Up 0.1 %

Shares of NYSE APD opened at $327.45 on Thursday. The stock has a market cap of $72.82 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 3.16 and a beta of 0.84. The firm has a 50 day moving average price of $310.10 and a two-hundred day moving average price of $298.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $337.00.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a 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 currently 41.68%.

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.