Air Products and Chemicals, Inc. (NYSE:APD) Stake Decreased by Eastern Bank

Eastern Bank lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,805 shares of the basic materials company’s stock after selling 802 shares during the period. Eastern Bank’s holdings in Air Products and Chemicals were worth $21,406,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in Air Products and Chemicals in the 2nd quarter valued at about $32,000. Iron Horse Wealth Management LLC boosted its position in shares of Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Air Products and Chemicals by 58.8% in the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock traded up $8.79 during midday trading on Monday, hitting $301.87. The company had a trading volume of 1,691,098 shares, compared to its average volume of 1,438,279. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The business’s 50 day simple moving average is $309.41 and its two-hundred day simple moving average is $292.76. The stock has a market cap of $67.13 billion, a PE ratio of 17.57, a P/E/G ratio of 3.13 and a beta of 0.84.

Air Products and Chemicals Dividend Announcement

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 paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is presently 41.21%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on APD. Wells Fargo & Company upped their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. 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 report on Monday, November 18th. 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. BMO Capital Markets lifted their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group upgraded 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. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus 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.