Independent Advisor Alliance Sells 5,182 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Independent Advisor Alliance lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 50.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,066 shares of the basic materials company’s stock after selling 5,182 shares during the period. Independent Advisor Alliance’s holdings in Air Products and Chemicals were worth $1,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock worth $3,452,000 after acquiring an additional 34 shares during the last quarter. CX Institutional lifted its position in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock worth $400,000 after purchasing an additional 34 shares in the last quarter. Bank of Stockton grew its stake in shares of Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 34 shares during the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Air Products and Chemicals by 1.0% in the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after purchasing an additional 37 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 37 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 0.3 %

NYSE:APD opened at $334.91 on Wednesday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $336.42. The stock has a 50-day moving average price of $312.41 and a two-hundred day moving average price of $284.35. The stock has a market cap of $74.46 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 3.33 and a beta of 0.81. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be paid 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 2.11%. Air Products and Chemicals’s payout ratio is 41.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered 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. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their target price for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a research report on Monday, October 7th. Finally, Barclays increased their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

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.