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SG Americas Securities LLC increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 106.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,494 shares of the basic materials company’s stock after acquiring an additional 6,952 shares during the period. SG Americas Securities LLC’s holdings in Air Products and Chemicals were worth $3,914,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in APD. Public Sector Pension Investment Board increased its stake in shares of Air Products and Chemicals by 67.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,540 shares of the basic materials company’s stock valued at $2,204,000 after purchasing an additional 3,451 shares during the last quarter. Marshall Wace LLP grew its position in Air Products and Chemicals by 175.5% in the second quarter. Marshall Wace LLP now owns 45,366 shares of the basic materials company’s stock valued at $11,707,000 after acquiring an additional 28,901 shares during the last quarter. MBB Public Markets I LLC raised its stake in Air Products and Chemicals by 1,240.5% during the second quarter. MBB Public Markets I LLC now owns 15,697 shares of the basic materials company’s stock worth $4,051,000 after acquiring an additional 14,526 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Air Products and Chemicals by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 141,238 shares of the basic materials company’s stock worth $36,447,000 after acquiring an additional 5,997 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at approximately $1,859,000. 81.66% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on APD. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research report on Friday, October 25th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the company from $295.00 to $364.00 in a research note on Monday, October 7th. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a research report on Monday, November 18th. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $330.00 to $350.00 in a research report on Tuesday, January 14th. 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 report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $335.65.
Read Our Latest Analysis on Air Products and Chemicals
Air Products and Chemicals Stock Performance
Shares of Air Products and Chemicals stock opened at $329.29 on Friday. The business has a 50-day moving average price of $310.14 and a two-hundred day moving average price of $296.47. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The company has a market cap of $73.23 billion, a P/E ratio of 19.17, a PEG ratio of 3.16 and a beta of 0.84.
Air Products and Chemicals Increases Dividend
The firm 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 $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.68%.
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.
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