Monte Financial Group LLC Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Monte Financial Group LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,433 shares of the basic materials company’s stock after selling 157 shares during the quarter. Air Products and Chemicals accounts for 2.3% of Monte Financial Group LLC’s portfolio, making the stock its 19th largest position. Monte Financial Group LLC’s holdings in Air Products and Chemicals were worth $5,346,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new position in Air Products and Chemicals during the third quarter worth $25,000. Raleigh Capital Management Inc. raised its holdings in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares during the period. Iron Horse Wealth Management LLC lifted 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 in the last quarter. Fortitude Family Office LLC boosted its holdings in Air Products and Chemicals by 58.8% during the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 50 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in Air Products and Chemicals in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on APD. Mizuho raised 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 note on Wednesday, October 9th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $315.00 to $365.00 in a research report on Friday. BMO Capital Markets upped their price objective on 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. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price target on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $335.65.

Air Products and Chemicals Trading Up 1.6 %

NYSE APD opened at $329.29 on Friday. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a market capitalization of $73.23 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.16 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 firm’s fifty day moving average price is $310.14 and its 200 day moving average price is $296.47.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, April 1st. 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.