Mechanics Bank Trust Department Has $525,000 Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Mechanics Bank Trust Department lifted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 79.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,810 shares of the basic materials company’s stock after buying an additional 800 shares during the quarter. Mechanics Bank Trust Department’s holdings in Air Products and Chemicals were worth $525,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of APD. Truvestments Capital LLC bought a new position in Air Products and Chemicals in the 3rd quarter worth $25,000. Iron Horse Wealth Management LLC raised its holdings in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 55 shares during the period. Fortitude Family Office LLC raised its holdings in Air Products and Chemicals by 58.8% in the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 50 shares during the period. Prospera Private Wealth LLC bought a new position in Air Products and Chemicals in the 3rd quarter worth $42,000. Finally, Reston Wealth Management LLC bought a new position in Air Products and Chemicals in the 3rd quarter worth $47,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the topic of several research reports. UBS Group upgraded 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. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays boosted their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $332.71.

Air Products and Chemicals Price Performance

NYSE:APD opened at $317.11 on Monday. The company’s 50-day moving average price is $309.42 and its two-hundred day moving average price is $294.40. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The firm has a market cap of $70.52 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a yield of 2.23%. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Air Products and Chemicals 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.