Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,483 shares of the basic materials company’s stock after selling 69 shares during the period. AMI Asset Management Corp’s holdings in Air Products and Chemicals were worth $720,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Air Products and Chemicals during the 3rd quarter worth $25,000. Iron Horse Wealth Management LLC raised its position 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 purchasing an additional 55 shares during the period. Fortitude Family Office LLC lifted 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 valued at $39,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals during the 3rd quarter worth approximately $42,000. Finally, Reston Wealth Management LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $317.11 on Tuesday. The company has a 50-day moving average price of $309.49 and a two-hundred day moving average price of $295.14. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $70.52 billion, a PE ratio of 18.46, a P/E/G ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.23%. Air Products and Chemicals’s payout ratio is 41.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on 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. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research note on Monday, November 18th. Finally, Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $332.71.

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.