Air Products and Chemicals, Inc. (NYSE:APD) Stake Raised by Mechanics Bank Trust Department

Mechanics Bank Trust Department grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 79.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,810 shares of the basic materials company’s stock after buying an additional 800 shares during the period. Mechanics Bank Trust Department’s holdings in Air Products and Chemicals were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after acquiring an additional 139,223 shares during the period. Forsta AP Fonden increased its stake in shares of Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after acquiring an additional 5,400 shares during the period. Jensen Investment Management Inc. increased its stake 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 valued at $3,921,000 after acquiring an additional 5,190 shares during the period. World Investment Advisors LLC increased its stake in shares of Air Products and Chemicals by 1,205.1% during the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after acquiring an additional 35,479 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Air Products and Chemicals by 3.9% during the third quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock valued at $13,297,000 after acquiring an additional 1,662 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 1.6 %

Shares of NYSE:APD opened at $317.11 on Monday. The firm has a fifty day moving average of $309.42 and a two-hundred day moving average of $294.40. The firm has a market capitalization of $70.52 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Analyst Ratings Changes

A number of research firms recently commented on APD. JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. StockNews.com upgraded 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 upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target of $332.71.

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.