Jericho Financial LLP Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Jericho Financial LLP bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,627 shares of the basic materials company’s stock, valued at approximately $2,502,000. Air Products and Chemicals makes up approximately 1.8% of Jericho Financial LLP’s portfolio, making the stock its 24th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Air Products and Chemicals by 106.3% during the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after purchasing an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after buying an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $7,269,000. Forsta AP Fonden increased its holdings in shares of Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in shares of Air Products and Chemicals by 88.2% during the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after acquiring an additional 4,916 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the subject of a number of research analyst reports. Mizuho upped 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. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a report on Friday, October 25th. Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $330.00 to $350.00 in a research report on Tuesday, January 14th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, Citigroup boosted their target price on 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.50.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $335.45 on Wednesday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $341.14. The company has a 50-day moving average price of $310.39 and a 200 day moving average price of $299.92. The company has a market cap of $74.60 billion, a P/E ratio of 19.53, a PEG ratio of 3.55 and a beta of 0.85. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) 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.