MML Investors Services LLC raised its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,000 shares of the basic materials company's stock after purchasing an additional 4,317 shares during the quarter. MML Investors Services LLC's holdings in Air Products and Chemicals were worth $21,437,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of APD. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of Air Products and Chemicals by 0.3% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company's stock valued at $3,452,000 after acquiring an additional 34 shares in the last quarter. CX Institutional grew its holdings in Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company's stock valued at $400,000 after purchasing an additional 34 shares during the period. Bank of Stockton grew its holdings in Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company's stock valued at $540,000 after purchasing an additional 34 shares during the period. Exchange Traded Concepts LLC grew its holdings in Air Products and Chemicals by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 37 shares during the period. Finally, Chesapeake Wealth Management grew its holdings in Air Products and Chemicals by 1.7% during the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company's stock valued at $652,000 after purchasing an additional 37 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.
Air Products and Chemicals Price Performance
NYSE APD traded down $1.45 during trading hours on Tuesday, reaching $315.17. 742,131 shares of the stock traded hands, compared to its average volume of 1,602,764. The stock has a 50 day simple moving average of $318.59 and a two-hundred day simple moving average of $288.74. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company has a market cap of $70.09 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81.
Air Products and Chemicals Announces Dividend
The company also recently declared 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 dividend on an annualized basis and a yield of 2.25%. Air Products and Chemicals's payout ratio is 41.21%.
Analysts Set New Price Targets
APD has been the subject of several research reports. BMO Capital Markets increased their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. 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. Redburn Atlantic raised Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 price objective for the company in a report on Friday, October 25th. Citigroup increased their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company increased their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $331.53.
View Our Latest Analysis on Air Products and Chemicals
About Air Products and Chemicals
(
Free Report)
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.
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