Iron Gate Global Advisors LLC Acquires 2,146 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Iron Gate Global Advisors LLC boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,621 shares of the basic materials company’s stock after acquiring an additional 2,146 shares during the period. Air Products and Chemicals makes up approximately 2.4% of Iron Gate Global Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Iron Gate Global Advisors LLC’s holdings in Air Products and Chemicals were worth $15,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its stake in shares of Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after acquiring an additional 5,400 shares during the period. Jensen Investment Management Inc. lifted its stake in shares of Air Products and Chemicals by 65.0% in the third quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after acquiring an additional 5,190 shares in the last quarter. Townsquare Capital LLC boosted its position in Air Products and Chemicals by 3.9% during the 3rd quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock worth $13,297,000 after acquiring an additional 1,662 shares during the period. Woodstock Corp lifted its stake in Air Products and Chemicals by 6.5% during the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock valued at $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Finally, Impax Asset Management Group plc acquired a new position in shares of Air Products and Chemicals in the 3rd quarter valued at about $3,234,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Monday, November 18th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. The Goldman Sachs Group boosted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Trading Up 0.4 %

Shares of NYSE APD opened at $335.66 on Tuesday. The business has a fifty day moving average price of $315.16 and a 200 day moving average price of $286.11. The stock has a market capitalization of $74.64 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $336.42. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is 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.