Brendel Financial Advisors LLC Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Brendel Financial Advisors LLC trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,269 shares of the basic materials company’s stock after selling 403 shares during the period. Air Products and Chemicals accounts for approximately 2.2% of Brendel Financial Advisors LLC’s portfolio, making the stock its 14th biggest position. Brendel Financial Advisors LLC’s holdings in Air Products and Chemicals were worth $3,559,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. S.E.E.D. Planning Group LLC grew its position in Air Products and Chemicals by 29.0% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 6,942 shares of the basic materials company’s stock worth $2,013,000 after purchasing an additional 1,559 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Air Products and Chemicals by 39.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,705 shares of the basic materials company’s stock worth $2,525,000 after purchasing an additional 2,454 shares during the last quarter. Park Avenue Securities LLC grew its position in Air Products and Chemicals by 29.0% during the 4th quarter. Park Avenue Securities LLC now owns 12,027 shares of the basic materials company’s stock worth $3,488,000 after purchasing an additional 2,704 shares during the last quarter. Kathmere Capital Management LLC grew its position in Air Products and Chemicals by 7.4% during the 4th quarter. Kathmere Capital Management LLC now owns 1,502 shares of the basic materials company’s stock worth $436,000 after purchasing an additional 104 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Air Products and Chemicals by 3.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,975 shares of the basic materials company’s stock worth $1,733,000 after purchasing an additional 182 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on APD shares. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. BMO Capital Markets raised their price objective on shares of 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. Redburn Atlantic upgraded shares of 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. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Finally, Citigroup raised their target price 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $332.71.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $307.83 on Wednesday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00. The firm has a 50 day moving average price of $309.35 and a 200 day moving average price of $293.39. The company has a market cap of $68.46 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.30%. Air Products and Chemicals’s payout ratio is 41.21%.

Air Products and Chemicals Company Profile

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.