Cullen Investment Group LTD. Sells 2,064 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cullen Investment Group LTD. cut its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,301 shares of the basic materials company's stock after selling 2,064 shares during the period. Cullen Investment Group LTD.'s holdings in Air Products and Chemicals were worth $5,018,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company's stock valued at $111,488,000 after buying an additional 139,223 shares in the last quarter. Forsta AP Fonden lifted its position in Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company's stock valued at $13,607,000 after acquiring an additional 5,400 shares in the last quarter. Jensen Investment Management Inc. boosted its stake in Air Products and Chemicals by 65.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company's stock valued at $3,921,000 after purchasing an additional 5,190 shares during the last quarter. World Investment Advisors LLC increased its holdings in Air Products and Chemicals by 1,205.1% during the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company's stock worth $11,440,000 after purchasing an additional 35,479 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of Air Products and Chemicals by 3.9% in the third quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company's stock worth $13,297,000 after purchasing an additional 1,662 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $6.09 during midday trading on Tuesday, hitting $307.83. 1,949,234 shares of the company's stock were exchanged, compared to its average volume of 1,615,379. 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 business's fifty day moving average price is $309.32 and its two-hundred day moving average price is $293.04. The company has a market cap of $68.46 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.13 and a beta of 0.84. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $337.00.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, January 2nd. Air Products and Chemicals's payout ratio is 41.21%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Evercore ISI raised Air Products and Chemicals from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $305.00 to $365.00 in a research report on Monday, October 7th. StockNews.com upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. Mizuho increased their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Vertical Research upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. Finally, Barclays increased their target price on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $332.71.

Air Products and Chemicals Company 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.