Avestar Capital LLC Acquires 79 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Avestar Capital LLC grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 8.0% in the third quarter, HoldingsChannel reports. The fund owned 1,068 shares of the basic materials company’s stock after purchasing an additional 79 shares during the quarter. Avestar Capital LLC’s holdings in Air Products and Chemicals were worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals during the 2nd quarter valued at $32,000. Iron Horse Wealth Management LLC lifted its stake 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 buying an additional 55 shares in the last quarter. Trifecta Capital Advisors LLC lifted its stake in shares of Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Air Products and Chemicals during the 3rd quarter valued at $42,000. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on APD shares. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a research note on Monday, October 7th. Redburn Atlantic upgraded 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. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $333.20 on Thursday. The company has a market capitalization of $74.10 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 3.35 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $336.42. The firm’s 50-day moving average is $313.32 and its 200 day moving average is $284.69. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a yield of 2.12%. 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.