Mechanics Bank Trust Department Buys 800 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Mechanics Bank Trust Department boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 79.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,810 shares of the basic materials company's stock after purchasing an additional 800 shares during the period. Mechanics Bank Trust Department's holdings in Air Products and Chemicals were worth $525,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of APD. Wealth Enhancement Advisory Services LLC increased its stake in shares of Air Products and Chemicals by 59.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company's stock worth $111,488,000 after purchasing an additional 139,223 shares during the last quarter. Forsta AP Fonden raised its stake in Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company's stock valued at $13,607,000 after buying an additional 5,400 shares during the period. Jensen Investment Management Inc. lifted its position in shares of Air Products and Chemicals by 65.0% in the third quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company's stock valued at $3,921,000 after buying an additional 5,190 shares during the last quarter. World Investment Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1,205.1% during the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company's stock worth $11,440,000 after acquiring an additional 35,479 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $7,269,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho raised their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a 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 raised their target price for the stock from $330.00 to $350.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th. 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 report on Friday, October 25th. Finally, Evercore ISI upgraded 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $332.71.

Air Products and Chemicals Price Performance

APD stock traded up $5.05 during mid-day trading on Monday, hitting $317.11. The stock had a trading volume of 2,315,359 shares, compared to its average volume of 855,050. The firm has a fifty day simple moving average of $309.42 and a 200 day simple moving average of $294.69. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week 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 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.

Air Products and Chemicals Announces Dividend

The company 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. The ex-dividend date of this dividend 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.