Air Products and Chemicals, Inc. (NYSE:APD) Shares Bought by MML Investors Services LLC

MML Investors Services LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 72,000 shares of the basic materials company’s stock after purchasing an additional 4,317 shares during the quarter. MML Investors Services LLC’s holdings in Air Products and Chemicals were worth $21,437,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of APD. Forsta AP Fonden lifted its holdings in Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after buying an additional 5,400 shares in the last quarter. 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. Townsquare Capital LLC lifted its stake in shares of Air Products and Chemicals by 3.9% in the third quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock worth $13,297,000 after acquiring an additional 1,662 shares in the last quarter. Woodstock Corp boosted its holdings in Air Products and Chemicals by 6.5% in the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock valued at $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Finally, Impax Asset Management Group plc acquired a new stake in Air Products and Chemicals during the 3rd quarter valued at approximately $3,234,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

NYSE APD opened at $316.69 on Tuesday. The company has a 50 day moving average price of $318.59 and a two-hundred day moving average price of $288.74. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00. The stock has a market capitalization of $70.42 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have 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. Wells Fargo & Company upped their price objective on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. BMO Capital Markets increased their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Citigroup upped their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Vertical Research upgraded 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. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

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.