Lewis Asset Management LLC Sells 36 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Lewis Asset Management LLC decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,296 shares of the basic materials company’s stock after selling 36 shares during the period. Lewis Asset Management LLC’s holdings in Air Products and Chemicals were worth $376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in Air Products and Chemicals in the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its position 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 worth $30,000 after purchasing an additional 43 shares during the period. Iron Horse Wealth Management LLC lifted its stake in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after buying an additional 55 shares in the last quarter. Fortitude Family Office LLC boosted its stake 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 acquired a new stake in Air Products and Chemicals in the 3rd quarter valued at approximately $42,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $327.45 on Thursday. 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 firm has a market cap of $72.82 billion, a PE ratio of 19.06, a PEG ratio of 3.16 and a beta of 0.84. The company’s 50 day moving average price is $310.10 and its two-hundred day moving average price is $298.00. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00.

Air Products and Chemicals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.19%. Air Products and Chemicals’s payout ratio is currently 41.68%.

Analyst Ratings Changes

A number of research firms have weighed in on APD. BMO Capital Markets raised their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a report on Monday, October 7th. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research note on Monday. Finally, Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.47.

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.