Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 42.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,489 shares of the basic materials company’s stock after selling 1,105 shares during the period. Verity Asset Management Inc.’s holdings in Air Products and Chemicals were worth $430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Patron Partners LLC raised its holdings in Air Products and Chemicals by 4.4% in the 4th quarter. Patron Partners LLC now owns 2,373 shares of the basic materials company’s stock valued at $688,000 after acquiring an additional 99 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $31,000. Catalina Capital Group LLC increased its stake in Air Products and Chemicals by 4.7% in the fourth quarter. Catalina Capital Group LLC now owns 920 shares of the basic materials company’s stock valued at $267,000 after purchasing an additional 41 shares during the last quarter. S.A. Mason LLC lifted its position in Air Products and Chemicals by 5.8% during the fourth quarter. S.A. Mason LLC now owns 997 shares of the basic materials company’s stock worth $289,000 after buying an additional 55 shares during the period. Finally, JB Capital LLC boosted its stake in Air Products and Chemicals by 4.6% in the 4th quarter. JB Capital LLC now owns 10,533 shares of the basic materials company’s stock worth $3,055,000 after buying an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.1 %

APD stock opened at $338.90 on Tuesday. 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 50 day simple moving average of $310.29 and a 200-day simple moving average of $299.41. The company has a market capitalization of $75.37 billion, a P/E ratio of 19.73, a PEG ratio of 3.55 and a beta of 0.85. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $339.10.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.11%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is presently 41.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Redburn Atlantic raised shares of 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 note on Friday, October 25th. BMO Capital Markets boosted 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. Mizuho increased their target price 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. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research report on Friday. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.50.

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.