Lewis Asset Management LLC Has $376,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Lewis Asset Management LLC trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,296 shares of the basic materials company’s stock after selling 36 shares during the quarter. Lewis Asset Management LLC’s holdings in Air Products and Chemicals were worth $376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new stake in shares of Air Products and Chemicals during the third quarter worth $25,000. Raleigh Capital Management Inc. grew its position in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during 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 increased its holdings in 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 purchasing an additional 50 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Air Products and Chemicals in the third quarter valued at about $42,000. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APD. JPMorgan Chase & Co. lowered their price objective on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $330.00 to $350.00 in a research note on Tuesday, January 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 on the stock in a research note on Friday, October 25th. BMO Capital Markets raised their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Mizuho upped their price target on 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. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.47.

Air Products and Chemicals Price Performance

APD stock opened at $327.45 on Thursday. The company’s 50-day moving average is $310.10 and its 200-day moving average is $298.00. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The stock has a market capitalization of $72.82 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors 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 represents a $7.16 annualized dividend and a yield of 2.19%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) 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.