Fruth Investment Management Has $6.09 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Fruth Investment Management cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,987 shares of the basic materials company’s stock after selling 270 shares during the period. Air Products and Chemicals comprises approximately 1.7% of Fruth Investment Management’s holdings, making the stock its 12th largest position. Fruth Investment Management’s holdings in Air Products and Chemicals were worth $6,087,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in APD. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Financial Life Planners bought a new stake in Air Products and Chemicals in the fourth quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its stake in shares of 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 worth $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Newton One Investments LLC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research report on Monday, January 27th. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $330.00 to $350.00 in a report on Tuesday, January 14th. Citigroup lifted 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 research report on Monday, November 11th. UBS Group upped their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Mizuho boosted their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $340.50.

Air Products and Chemicals Stock Down 0.7 %

Shares of APD stock opened at $333.45 on Thursday. The stock has a market cap of $74.15 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85. 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 stock has a fifty day moving average price of $310.40 and a 200 day moving average price of $300.43. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $341.14.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.15%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.21%.

Air Products and Chemicals Company 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.