Air Products and Chemicals, Inc. (NYSE:APD) Holdings Reduced by Hartford Financial Management Inc.

Hartford Financial Management Inc. lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,273 shares of the basic materials company’s stock after selling 235 shares during the quarter. Hartford Financial Management Inc.’s holdings in Air Products and Chemicals were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC increased its holdings in shares of Air Products and Chemicals by 29,954.1% during the third 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 period. ING Groep NV grew 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 valued at $304,717,000 after buying an additional 723,019 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after buying an additional 722,132 shares during the period. Van ECK Associates Corp raised its position in shares of Air Products and Chemicals by 1,685.4% during the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock worth $249,698,000 after buying an additional 721,671 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Air Products and Chemicals by 29,957.6% in the 3rd quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock worth $2,138,000,000 after acquiring an additional 715,686 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 2.4 %

Shares of APD stock opened at $335.10 on Friday. The stock’s 50 day simple moving average is $310.09 and its 200 day simple moving average is $298.21. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The company has a market capitalization of $74.52 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.14%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $315.00 to $365.00 in a report on Friday, January 24th. Citigroup raised their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $330.00 to $350.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Mizuho increased their price target on 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. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.47.

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.