Brown Brothers Harriman & Co. Grows Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Brown Brothers Harriman & Co. raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 40.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,430 shares of the basic materials company’s stock after purchasing an additional 5,024 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Air Products and Chemicals were worth $5,190,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in Air Products and Chemicals by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock worth $3,452,000 after purchasing an additional 34 shares in the last quarter. CX Institutional raised its position in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after buying an additional 34 shares during the last quarter. Bank of Stockton lifted its holdings in shares of Air Products and Chemicals by 1.9% in the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after buying an additional 34 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Air Products and Chemicals by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 37 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APD has been the subject of several research reports. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Citigroup increased 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. 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. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Trading Up 0.7 %

APD opened at $334.07 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The stock’s 50 day moving average price is $311.53 and its 200-day moving average price is $283.75. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $336.42. The stock has a market cap of $74.29 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 3.33 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be paid a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.12%. Air Products and Chemicals’s payout ratio is 41.21%.

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.