Resurgent Financial Advisors LLC Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Resurgent Financial Advisors LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,613 shares of the basic materials company’s stock after selling 111 shares during the period. Resurgent Financial Advisors LLC’s holdings in Air Products and Chemicals were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at about $25,000. Iron Horse Wealth Management LLC increased its stake in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the period. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the second quarter worth about $32,000. Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals during the third quarter worth about $42,000. Finally, Trifecta Capital Advisors LLC increased its stake in Air Products and Chemicals by 1,700.0% during the second 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 period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APD. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Mizuho boosted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, Citigroup boosted their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $327.48 on Thursday. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The business has a 50 day simple moving average of $317.37 and a 200-day simple moving average of $287.42. The stock has a market capitalization of $72.82 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 3.36 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio 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.