Gateway Investment Advisers LLC lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,170 shares of the basic materials company's stock after selling 1,657 shares during the quarter. Gateway Investment Advisers LLC's holdings in Air Products and Chemicals were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Air Products and Chemicals by 1.9% during the third 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Air Products and Chemicals by 4.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company's stock valued at $790,371,000 after buying an additional 122,676 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock valued at $861,722,000 after acquiring an additional 2,884,581 shares during the period. Raymond James & Associates increased its holdings in Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company's stock worth $608,312,000 after acquiring an additional 33,313 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Air Products and Chemicals by 25.2% during the 2nd quarter. Clearbridge Investments LLC now owns 1,936,582 shares of the basic materials company's stock worth $499,735,000 after acquiring an additional 389,380 shares during the period. Institutional investors own 81.66% of the company's stock.
A number of equities analysts have weighed in on APD shares. Citigroup upped their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company upgraded Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $330.00 to $350.00 in a research note on Tuesday, January 14th. UBS Group upgraded Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price objective on the stock in a research report on Monday, November 18th. Redburn Atlantic upgraded Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 target price for the company in a research report on Friday, October 25th. Finally, Evercore ISI raised Air Products and Chemicals from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus target price of $332.71.
Get Our Latest Stock Report on APD
Shares of NYSE:APD traded up $5.05 during trading on Friday, reaching $317.11. The company's stock had a trading volume of 2,315,359 shares, compared to its average volume of 855,050. The stock has a market capitalization of $70.52 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm's 50 day simple moving average is $309.42 and its two-hundred day simple moving average is $294.10.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals's payout ratio is 41.21%.
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.
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