Viking Fund Management LLC Sells 3,000 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Viking Fund Management LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APDFree Report) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,000 shares of the basic materials company’s stock after selling 3,000 shares during the period. Viking Fund Management LLC’s holdings in Air Products and Chemicals were worth $7,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at $25,000. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during the 3rd 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 during the last quarter. Fortitude Family Office LLC increased its holdings in Air Products and Chemicals by 58.8% during 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 in the third quarter worth $42,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Air Products and Chemicals during the third quarter worth $47,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

APD stock opened at $319.62 on Wednesday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm has a market cap of $71.08 billion, a PE ratio of 18.60, a P/E/G ratio of 3.16 and a beta of 0.84. The business’s 50-day moving average price is $309.66 and its two-hundred day moving average price is $295.61.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.22%. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APD. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Monday, November 18th. BMO Capital Markets upped their price objective 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. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Finally, Citigroup upped their price target 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $332.71.

Get Our Latest Research Report on Air Products and Chemicals

Air Products and Chemicals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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