Studio Investment Management LLC Sells 187 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Studio Investment Management LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,881 shares of the basic materials company’s stock after selling 187 shares during the quarter. Studio Investment Management LLC’s holdings in Air Products and Chemicals were worth $858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in APD. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals in the 2nd quarter worth approximately $32,000. Iron Horse Wealth Management LLC grew its position 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 worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Air Products and Chemicals during the third quarter valued at about $42,000. Finally, Beacon Capital Management LLC raised its stake in Air Products and Chemicals by 128.8% in the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after buying an additional 103 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $328.69 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. The stock has a market capitalization of $73.07 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81. The firm’s 50 day moving average price is $309.67 and its 200-day moving average price is $282.08. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.42.

Air Products and Chemicals Dividend Announcement

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 dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.15%. Air Products and Chemicals’s payout ratio is 41.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Monday. BMO Capital Markets boosted their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Finally, Citigroup upped their price target 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. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.