Boston Family Office LLC Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Boston Family Office LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,335 shares of the basic materials company’s stock after selling 303 shares during the quarter. Air Products and Chemicals accounts for 1.8% of Boston Family Office LLC’s investment portfolio, making the stock its 14th biggest position. Boston Family Office LLC’s holdings in Air Products and Chemicals were worth $26,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APD. Forsta AP Fonden raised its position in Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after purchasing an additional 5,400 shares during the period. Jensen Investment Management Inc. increased its position in shares of Air Products and Chemicals by 65.0% during the third quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after acquiring an additional 5,190 shares during the last quarter. Woodstock Corp increased its position in shares of Air Products and Chemicals by 6.5% during the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after acquiring an additional 2,387 shares during the last quarter. Impax Asset Management Group plc purchased a new stake in shares of Air Products and Chemicals during the third quarter worth about $3,234,000. Finally, ZWJ Investment Counsel Inc. increased its position in shares of Air Products and Chemicals by 33.8% during the third quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock worth $15,217,000 after acquiring an additional 12,925 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APD. BMO Capital Markets boosted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Mizuho boosted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Wells Fargo & Company upped their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, Barclays upped their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Trading Up 0.9 %

Shares of NYSE:APD opened at $331.83 on Monday. 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, Inc. has a 12 month low of $212.24 and a 12 month high of $332.69. The company’s fifty day simple moving average is $310.63 and its 200 day simple moving average is $283.16. The firm has a market cap of $73.79 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.33 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.13%. Air Products and Chemicals’s payout ratio is 41.21%.

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.