Spire Wealth Management Grows Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Spire Wealth Management lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,257 shares of the basic materials company’s stock after buying an additional 146 shares during the quarter. Spire Wealth Management’s holdings in Air Products and Chemicals were worth $655,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APD. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. increased its position in 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 last quarter. Iron Horse Wealth Management LLC raised its stake in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of 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 valued at $39,000 after purchasing an additional 50 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $42,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APD. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $330.00 to $350.00 in a report on Tuesday, January 14th. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research report on Friday, January 31st. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research report on Monday, January 27th. Finally, Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $315.00 to $365.00 in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.50.

Air Products and Chemicals Stock Performance

Shares of APD opened at $333.45 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $341.14. The business’s fifty day moving average price is $310.40 and its 200 day moving average price is $300.43. The stock has a market capitalization of $74.15 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85.

Air Products and Chemicals Increases Dividend

The firm also recently announced 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 represents a $7.16 dividend on an annualized basis and a yield of 2.15%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

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.