Ledyard National Bank Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Ledyard National Bank raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,259 shares of the basic materials company’s stock after acquiring an additional 87 shares during the period. Ledyard National Bank’s holdings in Air Products and Chemicals were worth $365,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Truvestments Capital LLC purchased a new position in Air Products and Chemicals during the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its stake in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Financial Life Planners purchased a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $31,000. Iron Horse Wealth Management LLC lifted its stake in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares during the period. Finally, Newton One Investments LLC purchased a new stake in Air Products and Chemicals during the fourth quarter worth $38,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 5.3 %

Shares of NYSE APD opened at $310.66 on Friday. The company has a market capitalization of $69.09 billion, a P/E ratio of 18.08, a P/E/G ratio of 3.55 and a beta of 0.85. 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 has a 50 day simple moving average of $310.30 and a 200-day simple moving average of $300.85. Air Products and Chemicals, Inc. has a 1 year low of $213.80 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.64% and a return on equity of 16.34%. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.76 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. 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. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.30%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Analysts Set New Price Targets

A number of brokerages have weighed in on APD. Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a report on Friday, January 31st. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a report on Monday, January 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday. Finally, StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.94.

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.