Verity Asset Management Inc. Reduces Position in Air Products and Chemicals, Inc. (NYSE:APD)

Verity Asset Management Inc. lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,489 shares of the basic materials company’s stock after selling 1,105 shares during the quarter. Verity Asset Management Inc.’s holdings in Air Products and Chemicals were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals during the 3rd quarter worth $25,000. Raleigh Capital Management Inc. raised its holdings in shares of Air Products and Chemicals by 69.4% in the fourth 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 last quarter. Financial Life Planners acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $31,000. Iron Horse Wealth Management LLC grew its holdings 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 buying an additional 55 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in Air Products and Chemicals by 58.8% in 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. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 1.1 %

Shares of NYSE APD opened at $338.90 on Tuesday. 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 50-day moving average is $310.29 and its two-hundred day moving average is $299.41. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $339.10. The company has a market capitalization of $75.37 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is 41.21%.

Analyst Ratings Changes

Several research analysts have weighed in on APD shares. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. BMO Capital Markets raised their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, UBS Group boosted their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $340.50.

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.