Precedent Wealth Partners LLC Grows Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Precedent Wealth Partners LLC raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,032 shares of the basic materials company’s stock after buying an additional 159 shares during the period. Precedent Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after purchasing an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Air Products and Chemicals during the fourth quarter worth approximately $7,269,000. Forsta AP Fonden raised its holdings in shares of Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after buying an additional 5,400 shares during the last quarter. Diversify Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals by 88.2% during the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares during the period. Finally, Jensen Investment Management Inc. increased its position in Air Products and Chemicals by 65.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after purchasing an additional 5,190 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE:APD opened at $329.29 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $337.00. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The firm has a market cap of $73.23 billion, a P/E ratio of 19.17, a PEG ratio of 3.16 and a beta of 0.84. The business’s 50-day moving average price is $310.14 and its 200 day moving average price is $296.47.

Air Products and Chemicals Increases Dividend

The company also recently announced 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. This is an increase 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%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.68%.

Analyst Upgrades and Downgrades

APD has been the topic of several recent analyst reports. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Citigroup upped their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $315.00 to $365.00 in a research note on Friday. Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $330.00 to $350.00 in a report on Tuesday, January 14th. Finally, BMO Capital Markets boosted their target price 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $335.65.

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.