Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Somerset Trust Co

Somerset Trust Co raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% in the fourth quarter, HoldingsChannel reports. The fund owned 12,217 shares of the basic materials company’s stock after purchasing an additional 365 shares during the period. Air Products and Chemicals accounts for approximately 1.3% of Somerset Trust Co’s investment portfolio, making the stock its 29th largest holding. Somerset Trust Co’s holdings in Air Products and Chemicals were worth $3,543,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in Air Products and Chemicals by 2.5% during the second quarter. American Century Companies Inc. now owns 41,220 shares of the basic materials company’s stock worth $10,637,000 after buying an additional 999 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Air Products and Chemicals by 93.6% in the second quarter. Axxcess Wealth Management LLC now owns 2,764 shares of the basic materials company’s stock worth $713,000 after acquiring an additional 1,336 shares during the period. Brighton Jones LLC boosted its stake in shares of Air Products and Chemicals by 6.8% during the 2nd quarter. Brighton Jones LLC now owns 3,172 shares of the basic materials company’s stock worth $819,000 after acquiring an additional 202 shares in the last quarter. Ieq Capital LLC grew its position in shares of Air Products and Chemicals by 11.3% during the 2nd quarter. Ieq Capital LLC now owns 10,265 shares of the basic materials company’s stock valued at $2,649,000 after acquiring an additional 1,046 shares during the period. Finally, Bridges Investment Management Inc. increased its stake in shares of Air Products and Chemicals by 65.7% in the 2nd quarter. Bridges Investment Management Inc. now owns 2,758 shares of the basic materials company’s stock valued at $712,000 after purchasing an additional 1,094 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 1.6 %

APD opened at $317.11 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. 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 business has a fifty day simple moving average of $309.34 and a 200-day simple moving average of $293.61. 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.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Analyst Ratings Changes

A number of brokerages have issued reports on APD. Redburn Atlantic upgraded 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 report on Friday, October 25th. BMO Capital Markets increased their target price on 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. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Mizuho increased their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Citigroup upped their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $332.71.

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.