Carnegie Investment Counsel Buys New Position in Air Products and Chemicals, Inc. (NYSE:APD)

Carnegie Investment Counsel bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,790 shares of the basic materials company's stock, valued at approximately $809,000.

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

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded up $5.05 during midday trading on Friday, reaching $317.11. The company's stock had a trading volume of 2,315,359 shares, compared to its average volume of 855,050. The firm has a market capitalization of $70.52 billion, a PE ratio of 18.46, a P/E/G ratio of 2.88 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. The stock's 50 day simple moving average is $309.42 and its 200 day simple moving average is $294.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals Announces Dividend

The business 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 dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals's dividend payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Air Products and Chemicals from $295.00 to $315.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Evercore ISI upgraded shares of Air Products and Chemicals from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. BMO Capital Markets increased 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, Vertical Research upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.71.

Air Products and Chemicals Company 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.