Hager Investment Management Services LLC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Hager Investment Management Services LLC acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 135 shares of the basic materials company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CX Institutional grew its stake in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after buying an additional 34 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after acquiring an additional 34 shares during the period. Bank of Stockton grew its position in Air Products and Chemicals by 1.9% in the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after acquiring an additional 34 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Air Products and Chemicals by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 37 shares during the last quarter. Finally, Chesapeake Wealth Management grew its holdings in shares of Air Products and Chemicals by 1.7% in the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock worth $652,000 after purchasing an additional 37 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APD shares. BMO Capital Markets lifted 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 report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Sanford C. Bernstein upgraded shares of 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 report on Friday, January 31st. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Finally, Mizuho boosted their price objective 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 fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $340.50.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $333.45 on Thursday. The firm has a market capitalization of $74.15 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 3.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The stock’s 50-day simple moving average is $310.40 and its 200-day simple moving average is $300.43. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $341.14.

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 issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 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.