Arrowroot Family Office LLC Purchases Shares of 727 Air Products and Chemicals, Inc. (NYSE:APD)

Arrowroot Family Office LLC bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 3rd quarter, Holdings Channel reports. The fund bought 727 shares of the basic materials company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Air Products and Chemicals by 4.2% during the second 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 purchasing an additional 122,676 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Air Products and Chemicals by 29,954.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after acquiring an additional 2,884,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. Raymond James & Associates boosted its stake 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 purchasing an additional 33,313 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Air Products and Chemicals by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock valued at $525,085,000 after purchasing an additional 5,140 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. 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 note on Monday, August 5th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday, October 7th. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a research report on Monday, November 18th. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $334.33 on Monday. The firm’s 50 day simple moving average is $315.16 and its 200-day simple moving average is $286.11. 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, Inc. has a one year low of $212.24 and a one year high of $336.42. The firm has a market cap of $74.35 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a yield of 2.12%. Air Products and Chemicals’s dividend payout ratio (DPR) 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.