Kestra Investment Management LLC Acquires New Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Kestra Investment Management LLC bought a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the 3rd quarter, Holdings Channel.com reports. The fund bought 3,331 shares of the basic materials company’s stock, valued at approximately $992,000.

Several other hedge funds also recently modified their holdings of APD. 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 worth $13,607,000 after purchasing an additional 5,400 shares in the last quarter. Jensen Investment Management Inc. increased its holdings in shares of Air Products and Chemicals by 65.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock valued at $3,921,000 after acquiring an additional 5,190 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Air Products and Chemicals by 3.9% in the 3rd quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock valued at $13,297,000 after acquiring an additional 1,662 shares in the last quarter. Woodstock Corp lifted its holdings in Air Products and Chemicals by 6.5% in the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Finally, Impax Asset Management Group plc bought a new stake in Air Products and Chemicals during the third quarter worth approximately $3,234,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.3 %

APD stock opened at $334.33 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm has a market cap of $74.35 billion, a P/E ratio of 19.46, a P/E/G ratio of 3.35 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $336.42. The business’s 50 day moving average is $315.16 and its 200-day moving average is $286.11.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a yield of 2.12%. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APD. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday, October 7th. Citigroup upped their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Monday, November 18th. Barclays increased their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.