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

LPL Financial LLC increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 308,329 shares of the basic materials company’s stock after buying an additional 3,901 shares during the period. LPL Financial LLC owned about 0.14% of Air Products and Chemicals worth $91,802,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its stake in shares of 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 acquiring an additional 55 shares during the period. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals during the second quarter worth about $32,000. Prospera Private Wealth LLC purchased a new position in shares of Air Products and Chemicals in the third quarter worth about $42,000. Trifecta Capital Advisors LLC raised its position in shares of 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 valued at $37,000 after purchasing an additional 136 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at approximately $47,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APD shares. The Goldman Sachs Group boosted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays increased their target price on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Mizuho raised their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $331.83 on Friday. The stock has a market capitalization of $73.77 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.30 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $332.69. 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 business’s 50 day simple moving average is $310.63 and its two-hundred day simple moving average is $282.91.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.13%. Air Products and Chemicals’s dividend payout ratio is currently 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.