First Commonwealth Financial Corp PA Acquires Shares of 958 Air Products and Chemicals, Inc. (NYSE:APD)

First Commonwealth Financial Corp PA acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 958 shares of the basic materials company’s stock, valued at approximately $285,000.

A number of other hedge funds have also recently modified their holdings of APD. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals during the third quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals during the 2nd quarter valued at about $32,000. Iron Horse Wealth Management LLC grew its position in shares of Air Products and Chemicals by 88.7% during 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. Trifecta Capital Advisors LLC increased its stake in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Air Products and Chemicals in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE:APD opened at $333.20 on Thursday. The stock has a 50 day moving average price of $313.32 and a 200 day moving average price of $284.69. The stock has a market cap of $74.10 billion, a PE ratio of 19.39, a P/E/G ratio of 3.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $336.42.

Air Products and Chemicals Announces Dividend

The business 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. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Wall Street Analyst Weigh In

Several brokerages have commented on APD. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $305.00 to $365.00 in a report on Monday, October 7th. 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 note on Friday, October 25th. The Goldman Sachs Group upped their price objective on shares of 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. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price 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.