Ledyard National Bank Increases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Ledyard National Bank increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,259 shares of the basic materials company’s stock after acquiring an additional 87 shares during the period. Ledyard National Bank’s holdings in Air Products and Chemicals were worth $365,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in Air Products and Chemicals during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. grew its stake in shares of Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth approximately $31,000. Iron Horse Wealth Management LLC lifted its stake in shares of Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 55 shares during the last quarter. Finally, Newton One Investments LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at $38,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Down 5.3 %

APD stock opened at $310.66 on Friday. 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 52 week low of $213.80 and a 52 week high of $341.14. The stock has a market capitalization of $69.09 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85. The firm has a 50 day moving average of $310.30 and a 200 day moving average of $300.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.64% and a return on equity of 16.34%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.76 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.30%. Air Products and Chemicals’s payout ratio is 41.21%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a research report on Friday, October 25th. Sanford C. Bernstein upgraded 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. Finally, UBS Group raised their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.94.

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.