Impax Asset Management Group plc Invests $3.23 Million in Air Products and Chemicals, Inc. (NYSE:APD)

Impax Asset Management Group plc acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 10,861 shares of the basic materials company's stock, valued at approximately $3,234,000.

Several other hedge funds have also recently made changes to their positions in the business. M&G Plc purchased a new stake in Air Products and Chemicals in the first quarter worth about $15,825,000. Cornerstone Advisors LLC purchased a new stake in Air Products and Chemicals in the first quarter worth $1,381,000. TIAA Trust National Association grew its stake in Air Products and Chemicals by 205.9% in the first quarter. TIAA Trust National Association now owns 56,528 shares of the basic materials company's stock worth $13,695,000 after purchasing an additional 38,049 shares during the period. Patten & Patten Inc. TN raised its holdings in Air Products and Chemicals by 18.7% in the first quarter. Patten & Patten Inc. TN now owns 2,940 shares of the basic materials company's stock worth $712,000 after purchasing an additional 464 shares in the last quarter. Finally, Chiron Capital Management LLC purchased a new position in Air Products and Chemicals during the first quarter valued at $436,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE:APD traded up $1.22 during trading hours on Friday, reaching $317.10. The company had a trading volume of 1,113,047 shares, compared to its average volume of 1,610,051. The firm's 50 day moving average price is $305.56 and its 200-day moving average price is $279.66. The firm has a market cap of $70.49 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.14 and a beta of 0.81. 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, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42.

Wall Street Analysts Forecast Growth

APD has been the subject of several research reports. 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. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a "buy" rating to a "hold" rating and decreased their target price for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Evercore ISI raised 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. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $329.76.

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.