Principal Financial Group Inc. Increases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Principal Financial Group Inc. boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 770,529 shares of the basic materials company's stock after purchasing an additional 14,067 shares during the quarter. Principal Financial Group Inc. owned about 0.35% of Air Products and Chemicals worth $229,418,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fidelity D & D Bancorp Inc. boosted its holdings in shares of Air Products and Chemicals by 3.8% in the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 1,555 shares of the basic materials company's stock valued at $463,000 after buying an additional 57 shares in the last quarter. Synovus Financial Corp lifted its position in Air Products and Chemicals by 85.1% in the third quarter. Synovus Financial Corp now owns 6,514 shares of the basic materials company's stock valued at $1,939,000 after acquiring an additional 2,995 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Air Products and Chemicals by 286.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,299 shares of the basic materials company's stock valued at $6,342,000 after acquiring an additional 15,791 shares in the last quarter. World Investment Advisors LLC boosted its stake in Air Products and Chemicals by 1,205.1% in the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company's stock valued at $11,440,000 after acquiring an additional 35,479 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of Air Products and Chemicals by 35.5% during the third quarter. Anchor Investment Management LLC now owns 2,930 shares of the basic materials company's stock worth $872,000 after purchasing an additional 768 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock traded up $1.82 during trading on Friday, reaching $294.99. The company's stock had a trading volume of 2,249,328 shares, compared to its average volume of 1,586,332. The business has a 50 day moving average price of $319.08 and a 200-day moving average price of $290.94. 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 market capitalization of $65.60 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Dividend Announcement

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 given a dividend of $1.77 per share. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. Air Products and Chemicals's payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APD shares. Mizuho boosted their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a report 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 for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and upped their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Finally, Evercore ISI raised shares of Air Products and Chemicals from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of "Moderate Buy" and an average 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.