HB Wealth Management LLC Lowers Stake in Air Products and Chemicals, Inc. (NYSE:APD)

HB Wealth Management LLC reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,094 shares of the basic materials company's stock after selling 5,348 shares during the quarter. HB Wealth Management LLC's holdings in Air Products and Chemicals were worth $7,857,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in APD. American Century Companies Inc. lifted its holdings in Air Products and Chemicals by 2.5% in the second quarter. American Century Companies Inc. now owns 41,220 shares of the basic materials company's stock worth $10,637,000 after buying an additional 999 shares during the period. Brighton Jones LLC raised its position in shares of Air Products and Chemicals by 6.8% in the 2nd quarter. Brighton Jones LLC now owns 3,172 shares of the basic materials company's stock worth $819,000 after acquiring an additional 202 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of Air Products and Chemicals by 11.3% in the 2nd quarter. Ieq Capital LLC now owns 10,265 shares of the basic materials company's stock valued at $2,649,000 after purchasing an additional 1,046 shares during the period. Bridges Investment Management Inc. boosted its position in shares of Air Products and Chemicals by 65.7% during the second quarter. Bridges Investment Management Inc. now owns 2,758 shares of the basic materials company's stock valued at $712,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Air Products and Chemicals by 2.4% in the second quarter. Sei Investments Co. now owns 78,328 shares of the basic materials company's stock worth $20,213,000 after purchasing an additional 1,852 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup raised their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Mizuho lifted their price target 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. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $330.00 to $350.00 in a report on Tuesday, January 14th. UBS Group upgraded shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 target price for the company in a report on Monday, November 18th. Finally, Evercore ISI upgraded Air Products and Chemicals from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $332.71.

Air Products and Chemicals Stock Performance

NYSE APD traded up $5.05 during trading hours on Friday, hitting $317.11. 2,315,359 shares of the company's stock traded hands, compared to its average volume of 855,050. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. The firm has a market capitalization of $70.52 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.88 and a beta of 0.84. 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 business's fifty day moving average price is $309.42 and its two-hundred day moving average price is $294.40.

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 paid a $1.77 dividend. The ex-dividend date 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 (DPR) is 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.