Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,079 shares of the basic materials company’s stock after selling 45 shares during the quarter. Mattern Wealth Management LLC’s holdings in Air Products and Chemicals were worth $893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APD. Foundations Investment Advisors LLC lifted its holdings in Air Products and Chemicals by 5.7% during the 4th quarter. Foundations Investment Advisors LLC now owns 3,402 shares of the basic materials company’s stock worth $987,000 after buying an additional 183 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Air Products and Chemicals by 44.3% during the fourth quarter. Pacer Advisors Inc. now owns 23,957 shares of the basic materials company’s stock valued at $6,948,000 after purchasing an additional 7,353 shares in the last quarter. United Asset Strategies Inc. lifted its stake in shares of Air Products and Chemicals by 1.5% in the 4th quarter. United Asset Strategies Inc. now owns 17,828 shares of the basic materials company’s stock worth $5,171,000 after acquiring an additional 259 shares during the period. KBC Group NV raised its stake in shares of Air Products and Chemicals by 4.3% in the 4th quarter. KBC Group NV now owns 34,914 shares of the basic materials company’s stock worth $10,127,000 after buying an additional 1,436 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Air Products and Chemicals by 15.7% in the fourth quarter. Blue Trust Inc. now owns 4,062 shares of the basic materials company’s stock worth $1,209,000 after acquiring an additional 551 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APD. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research report on Monday. Finally, Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $305.00 to $365.00 in a report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $337.88.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $326.61 on Tuesday. The stock’s 50 day moving average price is $310.14 and its 200-day moving average price is $297.05. 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, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The company has a market capitalization of $72.63 billion, a PE ratio of 19.01, a PEG ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is currently 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.