Independent Solutions Wealth Management LLC Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Independent Solutions Wealth Management LLC lessened its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 5.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,599 shares of the basic materials company’s stock after selling 206 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Air Products and Chemicals were worth $1,072,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals during the third quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the 2nd quarter valued at $32,000. Iron Horse Wealth Management LLC boosted its holdings in Air Products and Chemicals by 88.7% in 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 last quarter. Trifecta Capital Advisors LLC lifted its holdings in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 136 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter worth $42,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.3 %

Shares of Air Products and Chemicals stock traded down $0.83 during trading hours on Thursday, hitting $294.48. The company had a trading volume of 380,179 shares, compared to its average volume of 1,580,887. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The company has a market cap of $65.49 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company’s 50-day moving average is $319.95 and its two-hundred day moving average is $290.76.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. Air Products and Chemicals’s payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on APD shares. JPMorgan Chase & Co. reduced their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Mizuho lifted their target price 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. Finally, UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.