Wedge Capital Management L L P NC Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Wedge Capital Management L L P NC purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 25,062 shares of the basic materials company’s stock, valued at approximately $7,269,000.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals in the third quarter valued at $25,000. Iron Horse Wealth Management LLC raised its stake in 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 in the last quarter. Fortitude Family Office LLC boosted its position in shares of 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 valued at $39,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at $42,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $47,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APD has been the topic of several research analyst reports. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research note on Friday, October 25th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $330.00 to $350.00 in a research note on Tuesday, January 14th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a research report on Monday, November 18th. Finally, Barclays upped their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus price target of $332.71.

Air Products and Chemicals Trading Up 1.6 %

NYSE:APD opened at $317.11 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm has a market cap of $70.52 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.88 and a beta of 0.84. The firm has a 50-day simple moving average of $309.42 and a 200-day simple moving average of $294.10. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $337.00.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 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.