Pitcairn Co. Has $2.11 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Pitcairn Co. boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,083 shares of the basic materials company’s stock after purchasing an additional 376 shares during the period. Pitcairn Co.’s holdings in Air Products and Chemicals were worth $2,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Air Products and Chemicals in the second quarter worth $32,000. Iron Horse Wealth Management LLC grew its stake in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Trifecta Capital Advisors LLC increased its position in Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $42,000. Finally, Beacon Capital Management LLC grew its stake in shares of Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on APD shares. JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Mizuho upped their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a report on Monday, October 7th. Finally, Barclays upped their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Up 0.9 %

Shares of APD opened at $331.83 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The company has a 50-day simple moving average of $310.63 and a 200-day simple moving average of $282.91. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.69. The firm has a market capitalization of $73.77 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.30 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

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 issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.13%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

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.