NovaPoint Capital LLC Reduces Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

NovaPoint Capital LLC lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,069 shares of the basic materials company’s stock after selling 254 shares during the quarter. NovaPoint Capital LLC’s holdings in Air Products and Chemicals were worth $3,500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in APD. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals in the third quarter worth approximately $25,000. Raleigh Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after buying an additional 43 shares during the last quarter. Financial Life Planners purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $31,000. Iron Horse Wealth Management LLC raised its stake in 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 during the period. Finally, Newton One Investments LLC bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on APD shares. BMO Capital Markets raised 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 note on Thursday, November 14th. Citigroup lifted 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. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research report on Friday, January 31st. UBS Group lifted their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $330.00 to $350.00 in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $340.50.

Air Products and Chemicals Stock Down 0.7 %

Shares of APD opened at $333.45 on Thursday. The firm has a market capitalization of $74.15 billion, a P/E ratio of 19.41, a P/E/G ratio of 3.55 and a beta of 0.85. 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 current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $310.40 and a 200-day moving average price of $300.43.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 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.