Markel Group Inc. Buys 4,250 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Markel Group increased its Air Products and Chemicals stake by 4.8% in the third quarter, adding 4,250 shares to reach 92,750 shares valued at about $25.8 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $333.88; ratings include 12 Buys or Strong Buys and seven Holds.
• Air Products announced a quarterly dividend of $1.81 per share, equivalent to $7.24 annually and a 2.3% yield.

Markel Group Inc. boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,750 shares of the basic materials company's stock after acquiring an additional 4,250 shares during the period. Markel Group Inc.'s holdings in Air Products and Chemicals were worth $25,806,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Argus lifted their target price on shares of Air Products and Chemicals from $316.00 to $329.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Citigroup cut their price objective on Air Products and Chemicals from $330.00 to $312.00 and set a "neutral" rating for the company in a research report on Wednesday, October 7th. Royal Bank Of Canada lowered their price target on shares of Air Products and Chemicals from $360.00 to $346.00 and set an "outperform" rating on the stock in a research note on Thursday, October 15th. KeyCorp began coverage on shares of Air Products and Chemicals in a report on Thursday, September 10th. They issued a "sector weight" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $333.88.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $312.83 on Wednesday. The firm has a market capitalization of $69.66 billion, a price-to-earnings ratio of -1,421.94, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92. The business's 50 day simple moving average is $294.60 and its 200-day simple moving average is $290.21. Air Products and Chemicals, Inc. has a 12 month low of $229.11 and a 12 month high of $319.98.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be given a dividend of $1.81 per share. This represents a $7.24 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, January 4th. Air Products and Chemicals's payout ratio is presently -3,290.91%.

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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