Precedent Wealth Partners LLC Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Precedent Wealth Partners LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,032 shares of the basic materials company’s stock after purchasing an additional 159 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its holdings in shares of Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the period. ING Groep NV lifted its position in Air Products and Chemicals by 240.7% during the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after acquiring an additional 723,019 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of Air Products and Chemicals by 318.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after buying an additional 722,132 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Air Products and Chemicals by 1,685.4% during the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after acquiring an additional 721,671 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Air Products and Chemicals by 29,957.6% in the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock worth $2,138,000,000 after buying an additional 715,686 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the topic of several research analyst reports. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. BMO Capital Markets increased their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Monday, November 18th. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $315.00 to $365.00 in a report on Friday. Finally, Mizuho increased their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $335.65.

Air Products and Chemicals Trading Up 1.6 %

Shares of NYSE:APD opened at $329.29 on Friday. The business has a 50-day moving average price of $310.14 and a 200-day moving average price of $296.47. The stock has a market cap of $73.23 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.16 and a beta of 0.84. 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.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.17%. Air Products and Chemicals’s dividend payout ratio is presently 41.68%.

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.