SevenBridge Financial Group LLC Raises Stake in Air Products and Chemicals, Inc. (NYSE:APD)

SevenBridge Financial Group LLC increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,103 shares of the basic materials company’s stock after acquiring an additional 660 shares during the quarter. Air Products and Chemicals comprises 0.9% of SevenBridge Financial Group LLC’s holdings, making the stock its 28th largest position. SevenBridge Financial Group LLC’s holdings in Air Products and Chemicals were worth $5,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APD. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Air Products and Chemicals by 4.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock worth $790,371,000 after acquiring an additional 122,676 shares during the period. Pathway Financial Advisers LLC increased its holdings in Air Products and Chemicals by 29,954.1% during the 3rd 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. Massachusetts Financial Services Co. MA raised its position in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after purchasing an additional 1,564,169 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after buying an additional 33,313 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Air Products and Chemicals by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after buying an additional 5,140 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the subject of several recent research reports. Barclays lifted their price objective on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. BMO Capital Markets upped their price target on shares of 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. UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Monday, November 18th. Mizuho increased their target price 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. Finally, StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Trading Up 0.9 %

Shares of Air Products and Chemicals stock opened at $331.83 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.69. The firm’s 50 day simple moving average is $310.63 and its two-hundred day simple moving average is $282.91. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $73.77 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.30 and a beta of 0.81.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.13%. Air Products and Chemicals’s dividend payout ratio is currently 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.