Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 60.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,309 shares of the basic materials company's stock after purchasing an additional 22,790 shares during the period. Royal London Asset Management Ltd.'s holdings in Air Products and Chemicals were worth $17,850,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in APD. IHT Wealth Management LLC grew its stake in shares of Air Products and Chemicals by 13.1% in the third quarter. IHT Wealth Management LLC now owns 2,898 shares of the basic materials company's stock valued at $861,000 after buying an additional 335 shares in the last quarter. Intrepid Capital Management Inc. purchased a new position in Air Products and Chemicals in the 3rd quarter worth approximately $202,000. Integrated Wealth Concepts LLC grew its position in Air Products and Chemicals by 1.6% in the third quarter. Integrated Wealth Concepts LLC now owns 4,315 shares of the basic materials company's stock valued at $1,285,000 after acquiring an additional 69 shares in the last quarter. Investment Management Corp of Ontario raised its stake in shares of Air Products and Chemicals by 48.7% during the third quarter. Investment Management Corp of Ontario now owns 7,325 shares of the basic materials company's stock valued at $2,181,000 after purchasing an additional 2,400 shares during the period. Finally, Iron Gate Global Advisors LLC lifted its position in shares of Air Products and Chemicals by 4.3% during the third quarter. Iron Gate Global Advisors LLC now owns 52,621 shares of the basic materials company's stock worth $15,662,000 after purchasing an additional 2,146 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded down $1.86 during trading on Friday, hitting $320.11. 1,020,293 shares of the company traded hands, compared to its average volume of 1,507,847. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The business's fifty day moving average is $317.82 and its 200-day moving average is $287.66. The stock has a market capitalization of $71.19 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.28 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $337.00.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.21%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 41.21%.

Analyst Ratings Changes

APD has been the topic of several analyst reports. StockNews.com raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Monday, September 23rd. Jefferies Financial Group raised Air Products and Chemicals from a "hold" rating to a "buy" rating and lifted their target price for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Evercore ISI raised Air Products and Chemicals from an "in-line" rating to an "outperform" rating and increased their price target for the company from $305.00 to $365.00 in a report on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Finally, Vertical Research upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and set a $336.00 target price for the company in a research note on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $331.53.

Air Products and Chemicals 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.