First Citizens Bank & Trust Co. Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

First Citizens Bank & Trust Co. trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,476 shares of the basic materials company’s stock after selling 238 shares during the period. First Citizens Bank & Trust Co.’s holdings in Air Products and Chemicals were worth $3,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC boosted its position in Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after purchasing an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Air Products and Chemicals by 59.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after buying an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Air Products and Chemicals in the 4th quarter worth approximately $7,269,000. Forsta AP Fonden lifted its holdings in Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in Air Products and Chemicals by 88.2% in the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 1.6 %

Air Products and Chemicals stock opened at $329.29 on Monday. The firm has a market cap 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. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. The business’s 50-day moving average price is $310.14 and its 200 day moving average price is $296.77. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Analysts Set New Price Targets

APD has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective 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. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Citigroup upped their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Mizuho upped their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $335.65.

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.