Air Products and Chemicals, Inc. (NYSE:APD) Stake Reduced by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,444 shares of the basic materials company’s stock after selling 325 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Air Products and Chemicals were worth $419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Truvestments Capital LLC purchased a new position in shares of Air Products and Chemicals in the third quarter worth approximately $25,000. Raleigh Capital Management Inc. boosted its stake in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the period. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during the 3rd 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 in the last quarter. Fortitude Family Office LLC raised its stake in Air Products and Chemicals by 58.8% during the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Air Products and Chemicals in the third quarter valued at $42,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APD. Mizuho raised their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. UBS Group boosted their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a report on Monday. Finally, Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $338.47.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded down $0.48 during trading hours on Wednesday, reaching $326.53. The stock had a trading volume of 89,527 shares, compared to its average volume of 1,692,845. The business’s fifty day moving average is $310.10 and its two-hundred day moving average is $298.00. 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 $72.61 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.16 and a beta of 0.84. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.19%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is 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.