Peterson Wealth Services grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 513.2% during the fourth quarter, Holdings Channel reports. The firm owned 8,321 shares of the basic materials company’s stock after acquiring an additional 6,964 shares during the quarter. Peterson Wealth Services’ holdings in Air Products and Chemicals were worth $2,055,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Resurgent Financial Advisors LLC raised its stake in shares of Air Products and Chemicals by 14.1% in the fourth quarter. Resurgent Financial Advisors LLC now owns 1,481 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 183 shares in the last quarter. Xponance LLC raised its stake in shares of Air Products and Chemicals by 34.6% in the fourth quarter. Xponance LLC now owns 45,337 shares of the basic materials company’s stock valued at $11,199,000 after acquiring an additional 11,663 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Air Products and Chemicals by 3.7% in the fourth quarter. UniSuper Management Pty Ltd now owns 20,201 shares of the basic materials company’s stock valued at $4,990,000 after acquiring an additional 723 shares in the last quarter. Vaughan David Investments LLC IL raised its stake in shares of Air Products and Chemicals by 0.4% in the fourth quarter. Vaughan David Investments LLC IL now owns 135,959 shares of the basic materials company’s stock valued at $33,585,000 after acquiring an additional 534 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC raised its stake in shares of Air Products and Chemicals by 24.0% in the fourth quarter. Atlanta Consulting Group Advisors LLC now owns 1,348 shares of the basic materials company’s stock valued at $333,000 after acquiring an additional 261 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.
Air Products and Chemicals Stock Performance
NYSE APD opened at $277.98 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.43 and a debt-to-equity ratio of 0.95. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $307.96. The business’s 50-day moving average price is $292.84 and its 200 day moving average price is $276.24. The firm has a market cap of $61.90 billion, a P/E ratio of 29.42, a P/E/G ratio of 2.43 and a beta of 0.74.
Air Products and Chemicals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be issued a dividend of $1.81 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.6%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 76.61%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on APD. Berenberg Bank set a $350.00 price objective on Air Products and Chemicals and gave the company a “buy” rating in a research note on Monday, April 20th. Morgan Stanley increased their price objective on Air Products and Chemicals from $290.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. UBS Group increased their price objective on Air Products and Chemicals from $307.00 to $316.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Citigroup increased their target price on Air Products and Chemicals from $285.00 to $315.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, BMO Capital Markets raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $360.00 target price on the stock in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.12.
Check Out Our Latest Research Report on APD
Insider Buying and Selling
In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $303.76, for a total value of $824,404.64. Following the completion of the sale, the chief financial officer owned 14,212 shares in the company, valued at $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.88% of the stock is currently owned by insiders.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.
The company’s product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.
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