Patron Partners LLC Increases Position in Air Products and Chemicals, Inc. (NYSE:APD)

Patron Partners LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,373 shares of the basic materials company’s stock after acquiring an additional 99 shares during the quarter. Patron Partners LLC’s holdings in Air Products and Chemicals were worth $688,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. grew its stake in shares of Air Products and Chemicals by 56.8% in the second quarter. Centaurus Financial Inc. now owns 947 shares of the basic materials company’s stock worth $244,000 after acquiring an additional 343 shares during the last quarter. Czech National Bank raised its holdings in shares of Air Products and Chemicals by 6.9% in the 3rd quarter. Czech National Bank now owns 45,287 shares of the basic materials company’s stock valued at $13,484,000 after acquiring an additional 2,925 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Air Products and Chemicals by 48.3% during the third quarter. GAMMA Investing LLC now owns 3,469 shares of the basic materials company’s stock valued at $1,033,000 after buying an additional 1,130 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in shares of Air Products and Chemicals by 1.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 13,567 shares of the basic materials company’s stock worth $4,039,000 after buying an additional 141 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in Air Products and Chemicals by 23.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,511 shares of the basic materials company’s stock valued at $450,000 after buying an additional 286 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

APD opened at $338.90 on Tuesday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $339.10. 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 stock has a market cap of $75.37 billion, a PE ratio of 19.73, a P/E/G ratio of 3.55 and a beta of 0.85. The stock’s 50 day simple moving average is $310.29 and its 200-day simple moving average is $299.41.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.11%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.21%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APD shares. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $315.00 to $365.00 in a report on Friday, January 24th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a report on Monday, January 27th. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, BMO Capital Markets upped their price objective 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. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $340.50.

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.