Gladstone Institutional Advisory LLC lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 46.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,425 shares of the basic materials company’s stock after selling 2,143 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Air Products and Chemicals were worth $661,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Connections Group Inc. grew its position in Air Products and Chemicals by 46.7% during the 2nd quarter. Financial Connections Group Inc. now owns 110 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 35 shares during the period. Meadow Creek Wealth Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1.6% in the second quarter. Meadow Creek Wealth Advisors LLC now owns 2,276 shares of the basic materials company’s stock worth $642,000 after buying an additional 35 shares during the last quarter. YANKCOM Partnership grew its holdings in Air Products and Chemicals by 1.3% during the second quarter. YANKCOM Partnership now owns 2,805 shares of the basic materials company’s stock worth $791,000 after acquiring an additional 35 shares during the period. Atlatl Advisers LLC raised its position in Air Products and Chemicals by 2.5% during the second quarter. Atlatl Advisers LLC now owns 1,488 shares of the basic materials company’s stock valued at $420,000 after acquiring an additional 37 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Air Products and Chemicals by 7.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 568 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 37 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.
Air Products and Chemicals Stock Performance
NYSE:APD opened at $261.31 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.20 and a current ratio of 1.38. The company has a fifty day moving average of $251.07 and a two-hundred day moving average of $271.20. The stock has a market capitalization of $58.16 billion, a PE ratio of -146.80, a P/E/G ratio of 2.58 and a beta of 0.87. Air Products and Chemicals, Inc. has a fifty-two week low of $229.11 and a fifty-two week high of $341.14.
Air Products and Chemicals Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Friday, January 2nd will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.7%. Air Products and Chemicals’s dividend payout ratio is presently -402.25%.
Analysts Set New Price Targets
APD has been the topic of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Air Products and Chemicals in a research note on Monday, December 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Air Products and Chemicals in a report on Monday, December 29th. Bank of America raised shares of Air Products and Chemicals from an “underperform” rating to a “neutral” rating and set a $275.00 price objective for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Air Products and Chemicals from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Evercore ISI dropped their target price on Air Products and Chemicals from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $292.00.
Check Out Our Latest Analysis on Air Products and Chemicals
Air Products and Chemicals 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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