Monte Financial Group LLC Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Monte Financial Group LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,433 shares of the basic materials company’s stock after selling 157 shares during the period. Air Products and Chemicals comprises approximately 2.3% of Monte Financial Group LLC’s investment portfolio, making the stock its 19th largest holding. Monte Financial Group LLC’s holdings in Air Products and Chemicals were worth $5,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals during the third quarter valued at $25,000. Raleigh Capital Management Inc. grew its position in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Iron Horse Wealth Management LLC increased its stake in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Air Products and Chemicals by 58.8% in the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the subject of several research analyst reports. Citigroup upped their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $364.00 in a report on Monday, October 7th. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $315.00 to $365.00 in a research report on Friday. Finally, Mizuho boosted their price objective on 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. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.65.

Air Products and Chemicals Stock Up 1.6 %

Shares of NYSE APD opened at $329.29 on Friday. The company has a market capitalization of $73.23 billion, a P/E ratio of 19.17, a P/E/G ratio of 3.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company has a 50 day simple moving average of $310.14 and a 200-day simple moving average of $296.47. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $337.00.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.17%. Air Products and Chemicals’s dividend payout ratio (DPR) is 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.