Quarry LP Sells 680 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Quarry LP reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 87.1% during the third quarter, Holdings Channel reports. The fund owned 101 shares of the basic materials company’s stock after selling 680 shares during the period. Quarry LP’s holdings in Air Products and Chemicals were worth $30,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Royal London Asset Management Ltd. grew its position in Air Products and Chemicals by 60.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 60,309 shares of the basic materials company’s stock worth $17,850,000 after acquiring an additional 22,790 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Air Products and Chemicals by 13.1% in the 3rd quarter. IHT Wealth Management LLC now owns 2,898 shares of the basic materials company’s stock worth $861,000 after acquiring an additional 335 shares during the last quarter. Intrepid Capital Management Inc. bought a new stake in Air Products and Chemicals in the 3rd quarter worth $202,000. Integrated Wealth Concepts LLC grew its stake in shares of Air Products and Chemicals by 1.6% in the third quarter. Integrated Wealth Concepts LLC now owns 4,315 shares of the basic materials company’s stock worth $1,285,000 after purchasing an additional 69 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in Air Products and Chemicals by 48.7% during the 3rd quarter. Investment Management Corp of Ontario now owns 7,325 shares of the basic materials company’s stock valued at $2,181,000 after purchasing an additional 2,400 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

APD stock opened at $310.77 on Friday. The company has a market cap of $69.11 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81. 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 1 year low of $212.24 and a 1 year high of $337.00. The stock’s fifty day moving average price is $319.51 and its 200-day moving average price is $289.26.

Air Products and Chemicals Dividend Announcement

The firm also recently declared 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 2.28%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

APD has been the topic of a number of recent analyst reports. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Barclays lifted their price target on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Mizuho upped their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target 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.