Harrell Investment Partners LLC Lowers Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Harrell Investment Partners LLC cut its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,128 shares of the basic materials company’s stock after selling 310 shares during the quarter. Air Products and Chemicals accounts for approximately 1.3% of Harrell Investment Partners LLC’s holdings, making the stock its 28th largest position. Harrell Investment Partners LLC’s holdings in Air Products and Chemicals were worth $4,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Archford Capital Strategies LLC grew its holdings in Air Products and Chemicals by 1.3% in the fourth quarter. Archford Capital Strategies LLC now owns 6,835 shares of the basic materials company’s stock valued at $1,982,000 after purchasing an additional 91 shares during the period. Precedent Wealth Partners LLC grew its holdings in Air Products and Chemicals by 5.5% in the fourth quarter. Precedent Wealth Partners LLC now owns 3,032 shares of the basic materials company’s stock valued at $879,000 after purchasing an additional 159 shares during the period. Smith Chas P & Associates PA Cpas grew its holdings in Air Products and Chemicals by 1.5% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 128,143 shares of the basic materials company’s stock valued at $37,167,000 after purchasing an additional 1,902 shares during the period. Tran Capital Management L.P. purchased a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $8,499,000. Finally, Running Oak Capital LLC grew its holdings in Air Products and Chemicals by 3.8% in the fourth quarter. Running Oak Capital LLC now owns 45,074 shares of the basic materials company’s stock valued at $13,046,000 after purchasing an additional 1,666 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.6 %

APD opened at $329.29 on Friday. The stock has a market capitalization of $73.23 billion, a PE ratio of 19.17, a P/E/G ratio of 3.16 and a beta of 0.84. The firm’s fifty day moving average price is $310.14 and its 200 day moving average price is $296.47. 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 12-month low of $212.24 and a 12-month high of $337.00.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a positive change 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 yield of 2.17%. Air Products and Chemicals’s payout ratio is presently 41.68%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent research reports. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company 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 report on Monday, November 18th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. Finally, Mizuho lifted their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $335.65.

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.