Empowered Funds LLC Decreases Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Empowered Funds LLC trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 55.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,667 shares of the basic materials company’s stock after selling 7,150 shares during the quarter. Empowered Funds LLC’s holdings in Air Products and Chemicals were worth $1,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Pathway Financial Advisers LLC lifted its stake in shares of Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Air Products and Chemicals by 2,931.0% in the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after acquiring an additional 1,737,260 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after purchasing an additional 1,564,169 shares during the last quarter. ING Groep NV raised its position in Air Products and Chemicals by 240.7% in the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after purchasing an additional 723,019 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Air Products and Chemicals by 1,685.4% during the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after buying an additional 721,671 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 0.3 %

Shares of APD stock opened at $328.69 on Friday. 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, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.42. The firm has a market capitalization of $73.07 billion, a PE ratio of 19.13, a P/E/G ratio of 3.29 and a beta of 0.81. The stock’s 50-day simple moving average is $309.67 and its 200-day simple moving average is $282.08.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors 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 2.15%. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APD shares. Wells Fargo & Company boosted their price objective on 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. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. 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. Finally, Mizuho upped their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.