Goelzer Investment Management Inc. Decreases Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Goelzer Investment Management Inc. lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,375 shares of the basic materials company’s stock after selling 6,861 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Air Products and Chemicals were worth $8,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock valued at $1,448,570,000 after purchasing an additional 88,806 shares during the last quarter. Pathway Financial Advisers LLC raised its position in 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 purchasing an additional 2,884,581 shares during the period. Raymond James & Associates lifted its stake in Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after purchasing an additional 33,313 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Air Products and Chemicals by 25.2% during the second quarter. Clearbridge Investments LLC now owns 1,936,582 shares of the basic materials company’s stock valued at $499,735,000 after buying an additional 389,380 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Air Products and Chemicals by 3.9% during the third quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock valued at $555,967,000 after buying an additional 70,759 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Mizuho increased their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. 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 report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $335.65.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $329.29 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. The firm has a market capitalization of $73.23 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.16 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. The business has a fifty day moving average of $309.89 and a 200 day moving average of $295.96.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.17%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.21%.

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.