547,500 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Acquired by Sachem Head Capital Management LP

Sachem Head Capital Management LP purchased a new position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 547,500 shares of the basic materials company's stock, valued at approximately $163,013,000. Air Products and Chemicals makes up 8.6% of Sachem Head Capital Management LP's holdings, making the stock its 6th biggest position. Sachem Head Capital Management LP owned approximately 0.25% of Air Products and Chemicals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of APD. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company's stock valued at $3,452,000 after purchasing an additional 34 shares during the last quarter. CX Institutional increased its stake in Air Products and Chemicals by 2.6% in the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company's stock worth $400,000 after acquiring an additional 34 shares during the last quarter. Bank of Stockton raised its holdings in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company's stock worth $540,000 after acquiring an additional 34 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Air Products and Chemicals by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 37 shares during the last quarter. Finally, Chesapeake Wealth Management grew its holdings in shares of Air Products and Chemicals by 1.7% in the third quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company's stock valued at $652,000 after purchasing an additional 37 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on APD shares. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and increased their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a report on Friday, October 11th. BMO Capital Markets upped their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Citigroup lifted their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Finally, UBS Group upgraded Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 price target on the stock in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $331.53.

Air Products and Chemicals Stock Down 1.8 %

Shares of NYSE:APD traded down $5.83 during trading hours on Thursday, hitting $321.65. The company's stock had a trading volume of 1,262,388 shares, compared to its average volume of 1,608,053. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The firm's fifty day moving average price is $317.37 and its 200 day moving average price is $287.42. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00. The company has a market capitalization of $71.53 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 3.31 and a beta of 0.81.

Air Products and Chemicals Dividend Announcement

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. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.20%. Air Products and Chemicals's dividend payout ratio is presently 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.