Fortitude Family Office LLC Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Fortitude Family Office LLC grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 58.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135 shares of the basic materials company’s stock after purchasing an additional 50 shares during the period. Fortitude Family Office LLC’s holdings in Air Products and Chemicals were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APD. Douglas Lane & Associates LLC grew its position in Air Products and Chemicals by 10.4% in the fourth quarter. Douglas Lane & Associates LLC now owns 239,987 shares of the basic materials company’s stock worth $69,606,000 after acquiring an additional 22,610 shares in the last quarter. InvesTrust purchased a new position in Air Products and Chemicals in the fourth quarter worth $7,552,000. Fulton Bank N.A. grew its position in Air Products and Chemicals by 71.1% in the fourth quarter. Fulton Bank N.A. now owns 1,571 shares of the basic materials company’s stock worth $456,000 after acquiring an additional 653 shares in the last quarter. Bard Financial Services Inc. boosted its position in Air Products and Chemicals by 0.5% during the fourth quarter. Bard Financial Services Inc. now owns 9,500 shares of the basic materials company’s stock valued at $2,755,000 after buying an additional 50 shares during the period. Finally, CWA Asset Management Group LLC boosted its position in Air Products and Chemicals by 2.0% during the fourth quarter. CWA Asset Management Group LLC now owns 3,112 shares of the basic materials company’s stock valued at $903,000 after buying an additional 61 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 2.7 %

Shares of APD stock opened at $292.88 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month 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’s 50 day moving average is $309.41 and its 200 day moving average is $292.38. The stock has a market capitalization of $65.13 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.13 and a beta of 0.84.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. 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 company from $305.00 to $365.00 in a research note on Monday, October 7th. Citigroup raised their target price on shares of 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 shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a research note on Monday, November 18th. Finally, Redburn Atlantic raised shares of 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 note on Friday, October 25th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

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.