Independent Advisor Alliance Has $1.51 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Independent Advisor Alliance lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 50.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,066 shares of the basic materials company’s stock after selling 5,182 shares during the quarter. Independent Advisor Alliance’s holdings in Air Products and Chemicals were worth $1,508,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its position 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. Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals in the second quarter worth $32,000. Prospera Private Wealth LLC bought a new stake in shares of Air Products and Chemicals during the 3rd quarter worth $42,000. Trifecta Capital Advisors LLC grew its stake in Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new position in Air Products and Chemicals in the 3rd quarter worth $47,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $334.91 on Wednesday. The stock has a market capitalization of $74.46 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 3.33 and a beta of 0.81. The business’s fifty day moving average price is $312.41 and its two-hundred day moving average price is $284.35. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $336.42. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.11%. 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 equities research analysts have issued reports on APD shares. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their target price 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. BMO Capital Markets upped their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Finally, UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals 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.