Hixon Zuercher LLC Sells 57 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Hixon Zuercher LLC trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,887 shares of the basic materials company’s stock after selling 57 shares during the period. Hixon Zuercher LLC’s holdings in Air Products and Chemicals were worth $2,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mediolanum International Funds Ltd raised its position in shares of Air Products and Chemicals by 311.6% in the fourth quarter. Mediolanum International Funds Ltd now owns 9,923 shares of the basic materials company’s stock valued at $2,858,000 after purchasing an additional 7,512 shares during the period. Crews Bank & Trust acquired a new position in Air Products and Chemicals in the 4th quarter valued at $246,000. Milestone Asset Management LLC increased its position in Air Products and Chemicals by 2.7% during the 4th quarter. Milestone Asset Management LLC now owns 2,181 shares of the basic materials company’s stock worth $633,000 after buying an additional 57 shares during the period. Hanson & Doremus Investment Management increased its position in Air Products and Chemicals by 5.8% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,924 shares of the basic materials company’s stock worth $1,138,000 after acquiring an additional 216 shares during the period. Finally, Invesco LLC raised its stake in Air Products and Chemicals by 8.3% in the 4th quarter. Invesco LLC now owns 1,741 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 134 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $330.00 to $350.00 in a report on Tuesday, January 14th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday. Finally, Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a research report on Monday, October 7th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $338.47.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $335.10 on Friday. The firm’s 50-day moving average price is $310.09 and its 200-day moving average price is $298.21. The firm has a market capitalization of $74.52 billion, a P/E ratio of 19.51, a P/E/G ratio of 3.16 and a beta of 0.84. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.14%. Air Products and Chemicals’s dividend payout ratio is presently 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.