Ballentine Partners LLC Raises Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Ballentine Partners LLC grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,923 shares of the basic materials company’s stock after buying an additional 191 shares during the period. Ballentine Partners LLC’s holdings in Air Products and Chemicals were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth about $25,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 55 shares during the last quarter. Fortitude Family Office LLC lifted its holdings 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 acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth about $42,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Air Products and Chemicals in the 3rd quarter worth about $47,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.6 %

Shares of Air Products and Chemicals stock opened at $319.62 on Wednesday. The firm’s 50 day moving average price is $309.49 and its 200-day moving average price is $295.14. 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 52-week low of $212.24 and a 52-week high of $337.00. The company has a market cap of $71.08 billion, a P/E ratio of 18.60, a PEG ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is currently 41.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APD shares. JPMorgan Chase & Co. lowered their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a report on Monday, October 7th. BMO Capital Markets lifted their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Monday, November 18th. Finally, Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $305.00 to $365.00 in a report on Monday, October 7th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $332.71.

About Air Products and Chemicals

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.