Wesbanco Bank Inc. decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,920 shares of the basic materials company’s stock after selling 41 shares during the quarter. Wesbanco Bank Inc.’s holdings in Air Products and Chemicals were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $25,000. Iron Horse Wealth Management LLC lifted its position 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 valued at $35,000 after buying an additional 55 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Air Products and Chemicals by 58.8% during the fourth quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after buying an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Air Products and Chemicals during the third quarter valued at about $42,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on APD shares. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Monday, October 7th. Mizuho lifted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a report on Monday, November 18th. Citigroup lifted their target price on 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. Finally, BMO Capital Markets increased their price target 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.71.
Air Products and Chemicals Stock Up 2.1 %
Air Products and Chemicals stock opened at $323.65 on Friday. The stock has a market cap of $71.97 billion, a PE ratio of 18.84, a P/E/G ratio of 3.18 and a beta of 0.84. 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 stock’s fifty day moving average is $309.74 and its two-hundred day moving average is $295.76. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00.
Air Products and Chemicals Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.21%. Air Products and Chemicals’s payout ratio is presently 41.21%.
Air Products and Chemicals 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.
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