HighTower Advisors LLC Raises Stake in Air Products and Chemicals, Inc. (NYSE:APD)

HighTower Advisors LLC grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,862 shares of the basic materials company's stock after acquiring an additional 15,747 shares during the period. HighTower Advisors LLC owned about 0.11% of Air Products and Chemicals worth $72,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in Air Products and Chemicals in the third quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals in the second quarter worth $32,000. Iron Horse Wealth Management LLC grew its holdings in Air Products and Chemicals by 88.7% in 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 during the last quarter. Trifecta Capital Advisors LLC grew its holdings in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock worth $37,000 after purchasing an additional 136 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals in the third quarter worth $42,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 1.0 %

APD stock traded down $3.16 during midday trading on Wednesday, hitting $327.48. The company's stock had a trading volume of 974,887 shares, compared to its average volume of 1,610,041. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. 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 $72.82 billion, a P/E ratio of 19.06, a PEG ratio of 3.36 and a beta of 0.81. The firm has a 50-day simple moving average of $317.37 and a 200-day simple moving average of $287.42.

Air Products and Chemicals Dividend Announcement

The company 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 is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.16%. Air Products and Chemicals's payout ratio is 41.21%.

Analysts Set New Price Targets

Several research firms have commented on APD. UBS Group raised shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price target on the stock in a report on Monday, November 18th. Barclays upped their price target on shares of 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. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a report on Friday, October 11th. JPMorgan Chase & Co. lowered 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 report on Friday, November 8th. Finally, Jefferies Financial Group upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and upped their price objective for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $331.53.

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.