Jericho Financial LLP Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Jericho Financial LLP purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,627 shares of the basic materials company’s stock, valued at approximately $2,502,000. Air Products and Chemicals comprises 1.8% of Jericho Financial LLP’s investment portfolio, making the stock its 24th largest holding.

Several other institutional investors have also modified their holdings of APD. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Air Products and Chemicals by 0.3% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock worth $3,452,000 after purchasing an additional 34 shares in the last quarter. CX Institutional raised its stake in shares of Air Products and Chemicals by 2.6% during the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock worth $400,000 after buying an additional 34 shares during the last quarter. Bank of Stockton boosted its position in shares of Air Products and Chemicals by 1.9% in the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after buying an additional 34 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Air Products and Chemicals by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 37 shares in the last quarter. Finally, Chesapeake Wealth Management raised its position in Air Products and Chemicals by 1.7% during the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock worth $652,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.8 %

Shares of NYSE APD opened at $335.45 on Wednesday. The stock has a fifty day moving average price of $310.39 and a 200 day moving average price of $299.92. 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 12-month low of $212.24 and a 12-month high of $341.14. The company has a market cap of $74.60 billion, a P/E ratio of 19.53, a P/E/G ratio of 3.55 and a beta of 0.85.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors 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. This represents a $7.16 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Analysts Set New Price Targets

APD has been the topic of a number of recent research reports. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Redburn Atlantic raised shares of 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 note on Friday, October 25th. UBS Group raised their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Mizuho lifted their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.