Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,920 shares of the basic materials company’s stock after selling 41 shares during the period. Wesbanco Bank Inc.’s holdings in Air Products and Chemicals were worth $2,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Air Products and Chemicals during the third quarter worth approximately $25,000. Iron Horse Wealth Management LLC increased its holdings 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 valued at $35,000 after acquiring an additional 55 shares during the period. Fortitude Family Office LLC raised its position in Air Products and Chemicals by 58.8% in 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 last quarter. Prospera Private Wealth LLC acquired a new stake in Air Products and Chemicals during the 3rd quarter worth $42,000. Finally, Reston Wealth Management LLC purchased a new position in Air Products and Chemicals during the 3rd quarter worth $47,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $330.00 to $350.00 in a report on Tuesday, January 14th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their target price for the company from $295.00 to $364.00 in a report on Monday, October 7th. BMO Capital Markets increased their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Mizuho raised their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus price target of $332.71.

Air Products and Chemicals Price Performance

APD stock opened at $323.65 on Friday. The stock’s 50 day moving average price is $309.74 and its 200 day moving average price is $295.76. The firm has a market cap of $71.97 billion, a P/E ratio of 18.84, a PEG ratio of 3.18 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, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Air Products and Chemicals 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.