Gateway Investment Advisers LLC Reduces Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Gateway Investment Advisers LLC reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,170 shares of the basic materials company’s stock after selling 1,657 shares during the period. Gateway Investment Advisers LLC’s holdings in Air Products and Chemicals were worth $919,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals in the third quarter worth $25,000. Iron Horse Wealth Management LLC grew its stake in shares of 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 acquiring an additional 55 shares during 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 in the last quarter. Prospera Private Wealth LLC purchased a new position in Air Products and Chemicals in the third quarter worth about $42,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Air Products and Chemicals during the third quarter valued at approximately $47,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on APD shares. 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 research report on Wednesday, October 9th. Barclays increased their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their target price for the company from $305.00 to $365.00 in a report on Monday, October 7th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Finally, StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. 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, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average target price of $332.71.

Air Products and Chemicals Stock Performance

NYSE APD opened at $317.11 on Friday. The business’s 50 day moving average price is $309.42 and its 200-day moving average price is $294.10. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $337.00. The company 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 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders 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 yield of 2.23%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is 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.