Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 11.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 773 shares of the basic materials company’s stock after buying an additional 80 shares during the period. Drive Wealth Management LLC’s holdings in Air Products and Chemicals were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. raised 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 acquiring an additional 43 shares in the last quarter. Iron Horse Wealth Management LLC raised 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 acquiring an additional 55 shares in the last quarter. Fortitude Family Office LLC raised 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 acquiring an additional 50 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APD shares. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Monday, November 18th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a report on Monday, October 7th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Finally, Mizuho lifted their price objective 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. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $337.88.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $326.61 on Tuesday. The company has a market cap of $72.63 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.16 and a beta of 0.84. 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 52 week low of $212.24 and a 52 week high of $337.00. The business has a fifty day simple moving average of $310.14 and a 200-day simple moving average of $297.05.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is currently 41.21%.

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.