Griffin Asset Management Inc. Sells 935 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Griffin Asset Management Inc. lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,037 shares of the basic materials company's stock after selling 935 shares during the quarter. Air Products and Chemicals comprises approximately 1.4% of Griffin Asset Management Inc.'s holdings, making the stock its 18th largest holding. Griffin Asset Management Inc.'s holdings in Air Products and Chemicals were worth $11,612,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Air Products and Chemicals by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company's stock worth $3,914,000 after buying an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Air Products and Chemicals by 59.2% in 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 in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $7,269,000. Forsta AP Fonden boosted its holdings 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 acquiring an additional 5,400 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its stake in Air Products and Chemicals by 88.2% during the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company's stock valued at $3,074,000 after buying an additional 4,916 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $330.00 to $350.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped 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 report on Friday, November 8th. Jefferies Financial Group raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and lifted their price target for the company from $295.00 to $364.00 in a research report 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 on the stock in a report on Friday, October 25th. Finally, Evercore ISI raised shares of Air Products and Chemicals from an "in-line" rating to an "outperform" rating and lifted their target price for the company 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 issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $338.47.

Air Products and Chemicals Trading Up 0.1 %

Shares of Air Products and Chemicals stock traded up $0.40 during trading on Tuesday, reaching $327.02. 1,699,441 shares of the company were exchanged, compared to its average volume of 1,789,025. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The firm has a market capitalization of $72.72 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 3.16 and a beta of 0.84. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $310.11 and a 200-day moving average price of $297.54.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.19%. Air Products and Chemicals's payout ratio is presently 41.21%.

About Air Products and Chemicals

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.