Procyon Advisors LLC Has $2.72 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Procyon Advisors LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,392 shares of the basic materials company’s stock after purchasing an additional 233 shares during the quarter. Procyon Advisors LLC’s holdings in Air Products and Chemicals were worth $2,724,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth $25,000. 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 acquiring an additional 55 shares in the last quarter. Fortitude Family Office LLC boosted its stake 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 in the last quarter. Prospera Private Wealth LLC acquired a new position in Air Products and Chemicals during the 3rd quarter worth approximately $42,000. Finally, Reston Wealth Management LLC acquired a new position in Air Products and Chemicals in the 3rd quarter valued at approximately $47,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APD has been the subject of several analyst reports. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $330.00 to $350.00 in a report on Tuesday. Citigroup upped their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $332.71.

Air Products and Chemicals Stock Up 1.7 %

APD stock opened at $312.01 on Friday. The company’s 50 day moving average is $309.36 and its 200 day moving average is $293.48. The stock has a market cap of $69.39 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

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.