Wellington Management Group LLP lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 52.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,423 shares of the basic materials company's stock after selling 6,955 shares during the quarter. Wellington Management Group LLP's holdings in Air Products and Chemicals were worth $1,912,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals in the 2nd quarter worth about $32,000. Iron Horse Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC boosted its holdings in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company's stock valued at $37,000 after buying an additional 136 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at about $42,000. Institutional investors own 81.66% of the company's stock.
Air Products and Chemicals Price Performance
Air Products and Chemicals stock traded down $2.14 during midday trading on Thursday, hitting $293.17. The company's stock had a trading volume of 1,041,286 shares, compared to its average volume of 1,583,626. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. 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 company has a market capitalization of $65.20 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The stock's 50-day moving average price is $319.95 and its 200-day moving average price is $290.76.
Air Products and Chemicals Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals's dividend payout ratio is presently 41.21%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on APD. StockNews.com upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. Redburn Atlantic upgraded 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 note on Friday, October 25th. Citigroup raised their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research note on Monday, November 11th. UBS Group upgraded shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price target for the company in a research report on Monday, November 18th. Finally, Evercore ISI upgraded shares of Air Products and Chemicals from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $305.00 to $365.00 in a research report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $331.53.
View Our Latest Research Report 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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