Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Scharf Investments LLC

Scharf Investments LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 518,150 shares of the basic materials company’s stock after selling 29,727 shares during the period. Air Products and Chemicals makes up 4.5% of Scharf Investments LLC’s holdings, making the stock its 9th largest position. Scharf Investments LLC owned approximately 0.23% of Air Products and Chemicals worth $150,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals in the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. grew its holdings in shares of Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 55 shares during the period. Fortitude Family Office LLC raised its stake in 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 worth $39,000 after acquiring an additional 50 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Air Products and Chemicals during the 3rd quarter worth about $42,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on APD shares. Mizuho raised their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a research note on Friday. Finally, Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their target price for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $340.50.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $335.36 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $338.00. The stock has a market capitalization of $74.58 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 3.46 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. The firm has a 50-day simple moving average of $310.22 and a 200-day simple moving average of $298.46.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.14%. Air Products and Chemicals’s payout ratio is presently 41.21%.

About Air Products and Chemicals

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.