Wedge Capital Management L L P NC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Wedge Capital Management L L P NC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,062 shares of the basic materials company's stock, valued at approximately $7,269,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth approximately $25,000. Iron Horse Wealth Management LLC raised its position 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 acquiring an additional 55 shares during the period. Fortitude Family Office LLC lifted its holdings in Air Products and Chemicals by 58.8% during the fourth quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Air Products and Chemicals in the third quarter valued at about $42,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the third quarter worth about $47,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APD. Citigroup raised their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Barclays lifted 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. StockNews.com raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Finally, Mizuho increased their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $332.71.

Air Products and Chemicals Trading Up 1.6 %

APD traded up $5.05 on Friday, hitting $317.11. The company had a trading volume of 2,315,359 shares, compared to its average volume of 855,050. The company's fifty day moving average price is $309.42 and its 200 day moving average price is $294.40. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. 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 firm has a market cap of $70.52 billion, a P/E ratio of 18.46, a PEG ratio of 2.88 and a beta of 0.84.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend 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.