Icon Wealth Advisors LLC Buys 169 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Icon Wealth Advisors LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,646 shares of the basic materials company’s stock after buying an additional 169 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Air Products and Chemicals were worth $2,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Air Products and Chemicals during the first quarter worth about $281,000. B. Riley Wealth Advisors Inc. lifted its holdings in Air Products and Chemicals by 8.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,731 shares of the basic materials company’s stock valued at $1,388,000 after acquiring an additional 449 shares during the period. LRI Investments LLC acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $124,000. Swedbank AB acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $15,910,000. Finally, Cetera Investment Advisers lifted its holdings in Air Products and Chemicals by 872.6% in the first quarter. Cetera Investment Advisers now owns 119,907 shares of the basic materials company’s stock valued at $29,050,000 after acquiring an additional 107,579 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD opened at $333.22 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $336.42. The company has a market capitalization of $74.10 billion, a P/E ratio of 19.40, a PEG ratio of 3.34 and a beta of 0.81. The business has a 50 day moving average price of $314.23 and a 200 day moving average price of $285.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is currently 41.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APD. BMO Capital Markets boosted their price objective 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. Redburn Atlantic upgraded 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 report on Friday, October 25th. The Goldman Sachs Group boosted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target 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. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average target price of $331.53.

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.