International Assets Investment Management LLC Acquires 9,092 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• International Assets Investment Management increased its Air Products and Chemicals stake by 360.2% in the third quarter, purchasing 9,092 additional shares and bringing its holdings to 11,616 shares worth approximately $3.23 million.
• Air Products and Chemicals shares opened at $315.48, near their 12-month high of $319.98; institutional investors collectively own 81.66% of the company.
• The company declared a quarterly dividend of $1.81 per share, equivalent to $7.24 annually and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $333.88.

International Assets Investment Management LLC grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 360.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,616 shares of the basic materials company's stock after buying an additional 9,092 shares during the period. International Assets Investment Management LLC's holdings in Air Products and Chemicals were worth $3,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APD. Fiduciary Financial Advisors purchased a new position in shares of Air Products and Chemicals in the 2nd quarter valued at approximately $25,000. Main Street Group LTD bought a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its position in shares of Air Products and Chemicals by 318.2% during the first quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. grew its stake in Air Products and Chemicals by 77.6% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 103 shares of the basic materials company's stock worth $28,000 after purchasing an additional 45 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in Air Products and Chemicals in the third quarter worth $30,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $315.48 on Tuesday. The firm has a market cap of $70.25 billion, a P/E ratio of 23.24, a PEG ratio of 2.89 and a beta of 0.76. Air Products and Chemicals, Inc. has a twelve month low of $229.11 and a twelve month high of $319.98. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $294.46 and a 200 day moving average of $289.98.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Monday, January 4th will be paid a $1.81 dividend. The ex-dividend date is Monday, January 4th. This represents a $7.24 annualized dividend and a dividend yield of 2.3%. Air Products and Chemicals's payout ratio is currently -3,290.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APD shares. Weiss Ratings upgraded Air Products and Chemicals from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 27th. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $340.00 to $350.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Morgan Stanley set a $320.00 target price on shares of Air Products and Chemicals in a report on Monday, August 3rd. UBS Group reduced their target price on shares of Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Finally, KeyCorp assumed coverage on shares of Air Products and Chemicals in a research note on Thursday, September 10th. They issued a "sector weight" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $333.88.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.

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