Studio Investment Management LLC Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Studio Investment Management LLC lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,881 shares of the basic materials company’s stock after selling 187 shares during the period. Studio Investment Management LLC’s holdings in Air Products and Chemicals were worth $858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the 2nd quarter valued at approximately $32,000. Iron Horse Wealth Management LLC grew its stake in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 55 shares in the last quarter. Trifecta Capital Advisors LLC increased its holdings in Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 136 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter worth $42,000. Finally, Beacon Capital Management LLC grew its position in shares of Air Products and Chemicals by 128.8% during the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APD. Wells Fargo & Company boosted their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research 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 target price for the company in a research report on Monday. BMO Capital Markets upped their price target on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and twelve have given 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 price target of $331.53.

Air Products and Chemicals Price Performance

APD opened at $328.69 on Friday. The company has a market capitalization of $73.07 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.29 and a beta of 0.81. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.42. The business’s fifty day simple moving average is $309.67 and its 200-day simple moving average is $282.08.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.15%. Air Products and Chemicals’s payout ratio is 41.21%.

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.