Tran Capital Management L.P. Makes New $8.50 Million Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Tran Capital Management L.P. purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 29,303 shares of the basic materials company’s stock, valued at approximately $8,499,000. Air Products and Chemicals accounts for approximately 1.0% of Tran Capital Management L.P.’s portfolio, making the stock its 26th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. grew its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of Air Products and Chemicals by 88.7% in the third 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 in the last quarter. Fortitude Family Office LLC raised its position in shares of Air Products and Chemicals by 58.8% during the fourth 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 period. Finally, Prospera Private Wealth LLC bought a new position in shares of Air Products and Chemicals during the 3rd quarter valued at about $42,000. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APD. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Mizuho boosted their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. Citigroup lifted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, UBS Group upgraded 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. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $335.65.

Air Products and Chemicals Stock Up 1.6 %

APD stock opened at $329.29 on Friday. The business’s 50 day simple moving average is $310.14 and its 200 day simple moving average is $296.47. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The firm has a market capitalization of $73.23 billion, a PE ratio of 19.17, a PEG ratio of 3.16 and a beta of 0.84. 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 Increases Dividend

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

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.