First County Bank CT Raises Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

First County Bank CT lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 901 shares of the basic materials company’s stock after acquiring an additional 48 shares during the quarter. First County Bank CT’s holdings in Air Products and Chemicals were worth $268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals during the second quarter valued at approximately $32,000. Iron Horse Wealth Management LLC increased its position 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 worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC increased its position in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after buying an additional 136 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Air Products and Chemicals in the third quarter worth $42,000. Finally, Beacon Capital Management LLC increased its position 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 during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.9 %

Shares of NYSE:APD opened at $331.83 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $332.69. The firm has a market capitalization of $73.77 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.29 and a beta of 0.81. The stock has a 50 day moving average price of $310.63 and a 200-day moving average price of $282.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.13%. Air Products and Chemicals’s payout ratio is currently 41.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APD. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a report on Friday, October 25th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday, October 7th. Mizuho lifted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday, November 18th. Finally, Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.