Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Wealth Enhancement Advisory Services LLC lifted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.7% in the second quarter, HoldingsChannel reports. The firm owned 230,720 shares of the basic materials company’s stock after acquiring an additional 8,323 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Air Products and Chemicals were worth $59,537,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of APD. Capital Research Global Investors increased its position in shares of Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after purchasing an additional 4,330,471 shares during the last quarter. Norges Bank purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $852,288,000. Clearbridge Investments LLC increased its stake in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares during the last quarter. Scharf Investments LLC purchased a new stake in shares of Air Products and Chemicals during the 1st quarter worth approximately $87,173,000. Finally, Nordea Investment Management AB grew its position in shares of Air Products and Chemicals by 66.1% in the 1st quarter. Nordea Investment Management AB now owns 860,519 shares of the basic materials company’s stock valued at $207,807,000 after buying an additional 342,322 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APD shares. TD Cowen upped their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Mizuho decreased their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $296.53.

Air Products and Chemicals Price Performance

Shares of APD stock traded down $1.62 during midday trading on Wednesday, reaching $274.93. 106,243 shares of the company traded hands, compared to its average volume of 1,726,233. The firm’s 50 day simple moving average is $267.49 and its two-hundred day simple moving average is $250.87. The firm has a market cap of $61.12 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.31. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.58%. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

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.