Solidarity Wealth LLC Takes $4.64 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Solidarity Wealth LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 16,010 shares of the basic materials company’s stock, valued at approximately $4,644,000. Air Products and Chemicals accounts for about 1.2% of Solidarity Wealth LLC’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. CX Institutional boosted its stake in Air Products and Chemicals by 2.6% in the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after buying an additional 34 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in shares of Air Products and Chemicals by 0.3% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after purchasing an additional 34 shares in the last quarter. Bank of Stockton boosted its stake in shares of Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 34 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Air Products and Chemicals by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares in the last quarter. Finally, Chesapeake Wealth Management boosted its stake in shares of Air Products and Chemicals by 1.7% during the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 37 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APD. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research report on Friday, October 25th. BMO Capital Markets raised their price objective on 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. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $332.71.

Air Products and Chemicals Stock Up 1.6 %

Shares of NYSE:APD opened at $317.11 on Tuesday. The stock has a market cap of $70.52 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.88 and a beta of 0.84. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00. The business’s 50 day moving average is $309.42 and its 200 day moving average is $294.69.

Air Products and Chemicals Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.23%. Air Products and Chemicals’s payout ratio is 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.