Cornerstone Advisors LLC Grows Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Cornerstone Advisors LLC boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 39.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,700 shares of the basic materials company’s stock after acquiring an additional 1,900 shares during the quarter. Cornerstone Advisors LLC’s holdings in Air Products and Chemicals were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Iron Horse Wealth Management LLC raised its holdings in Air Products and Chemicals by 88.7% during the third 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 in the last quarter. Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the 2nd quarter worth approximately $32,000. Prospera Private Wealth LLC purchased a new position in shares of Air Products and Chemicals during the 3rd quarter worth approximately $42,000. Trifecta Capital Advisors LLC lifted its holdings in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals in the third quarter valued at approximately $47,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the subject of several research analyst reports. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday. The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, Mizuho upped their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Performance

Shares of APD opened at $328.69 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42. The company’s 50 day simple moving average is $309.67 and its 200 day simple moving average is $282.08. The company has a market capitalization of $73.07 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.15%. Air Products and Chemicals’s dividend payout ratio (DPR) is 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.