Benjamin Edwards Inc. Buys 90,785 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Benjamin Edwards Inc. grew its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 7,459.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,002 shares of the basic materials company’s stock after acquiring an additional 90,785 shares during the quarter. Benjamin Edwards Inc.’s holdings in Air Products and Chemicals were worth $27,398,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at $25,000. Iron Horse Wealth Management LLC raised its position in shares of Air Products and Chemicals by 88.7% during the third 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 during the period. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals during the 2nd quarter valued at about $32,000. Prospera Private Wealth LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at approximately $42,000. Finally, Trifecta Capital Advisors LLC increased its stake in Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APD. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research note on Monday, October 7th. Mizuho boosted their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research note on Friday, October 25th. BMO Capital Markets boosted their price objective 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. Finally, Wells Fargo & Company boosted their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Stock Up 0.3 %

APD stock opened at $334.33 on Monday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $336.42. The business’s 50 day simple moving average is $315.16 and its 200 day simple moving average is $286.11. 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 market capitalization of $74.35 billion, a PE ratio of 19.46, a PEG ratio of 3.35 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is presently 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.