Stock Yards Bank & Trust Co. Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Stock Yards Bank & Trust Co. trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 9.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,667 shares of the basic materials company’s stock after selling 885 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $2,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in Air Products and Chemicals in the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. boosted its position in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in shares of Air Products and Chemicals by 88.7% during the 3rd 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. Fortitude Family Office LLC boosted its position in shares of Air Products and Chemicals by 58.8% during the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 50 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter worth $42,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.1 %

NYSE APD opened at $335.36 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $338.00. The business has a 50 day moving average price of $310.29 and a two-hundred day moving average price of $299.21. The stock has a market cap of $74.58 billion, a PE ratio of 19.52, a P/E/G ratio of 3.46 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date 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 (DPR) is 41.68%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup boosted their target price 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. BMO Capital Markets boosted their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. UBS Group boosted their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. Finally, Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.50.

About Air Products and Chemicals

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.