Marcum Wealth LLC Acquires 191 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Marcum Wealth LLC boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,472 shares of the basic materials company’s stock after purchasing an additional 191 shares during the period. Marcum Wealth LLC’s holdings in Air Products and Chemicals were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in APD. Trust Point Inc. purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $246,000. Private Trust Co. NA increased its position in shares of Air Products and Chemicals by 4.3% during the fourth quarter. Private Trust Co. NA now owns 3,470 shares of the basic materials company’s stock valued at $950,000 after buying an additional 144 shares during the period. Matrix Asset Advisors Inc. NY increased its position in shares of Air Products and Chemicals by 10.3% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 61,099 shares of the basic materials company’s stock valued at $16,729,000 after buying an additional 5,730 shares during the period. Prime Capital Investment Advisors LLC increased its position in shares of Air Products and Chemicals by 72.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 6,096 shares of the basic materials company’s stock valued at $1,669,000 after buying an additional 2,559 shares during the period. Finally, Venture Visionary Partners LLC increased its position in shares of Air Products and Chemicals by 1.5% during the fourth quarter. Venture Visionary Partners LLC now owns 2,907 shares of the basic materials company’s stock valued at $796,000 after buying an additional 43 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Performance

APD stock traded down $3.06 on Monday, hitting $278.68. The company had a trading volume of 1,110,554 shares, compared to its average volume of 1,764,689. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $265.80 and its 200 day simple moving average is $250.06. The stock has a market cap of $61.95 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 3.17 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Monday, June 10th. UBS Group boosted their price objective on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. boosted their price objective on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $296.20.

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.