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

Ballentine Partners LLC boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,923 shares of the basic materials company’s stock after purchasing an additional 191 shares during the period. Ballentine Partners LLC’s holdings in Air Products and Chemicals were worth $1,718,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $25,000. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during the 3rd 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 last quarter. Fortitude Family Office LLC grew its position in Air Products and Chemicals by 58.8% during the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $42,000. Finally, Reston Wealth Management LLC purchased a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

APD has been the subject of several research reports. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday, October 7th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research note on Friday, October 25th. Finally, Barclays lifted their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target of $332.71.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $319.62 on Wednesday. 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 fifty day moving average of $309.49 and a two-hundred day moving average of $295.14. The stock has a market capitalization of $71.08 billion, a PE ratio of 18.60, a P/E/G ratio of 3.16 and a beta of 0.84. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $337.00.

Air Products and Chemicals Announces Dividend

The business 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 dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is presently 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.