Air Products and Chemicals, Inc. $APD Stock: Markel Group Inc. Boosts Position

Markel Group Inc. boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.8% in the third quarter, HoldingsChannel.com reports. The fund owned 92,750 shares of the basic materials company’s stock after buying an additional 4,250 shares during the quarter. Markel Group Inc.’s holdings in Air Products and Chemicals were worth $25,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of APD. MFG Investments LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at approximately $206,000. Third View Private Wealth LLC grew its holdings in Air Products and Chemicals by 0.4% during the 3rd quarter. Third View Private Wealth LLC now owns 19,100 shares of the basic materials company’s stock valued at $5,314,000 after buying an additional 84 shares during the last quarter. Provenance Wealth Advisors LLC increased its position in Air Products and Chemicals by 13,700.0% during the third quarter. Provenance Wealth Advisors LLC now owns 1,380 shares of the basic materials company’s stock worth $384,000 after buying an additional 1,370 shares in the last quarter. Associated Banc Corp purchased a new position in Air Products and Chemicals during the third quarter worth $25,874,000. Finally, First Nebraska Trust Co purchased a new position in Air Products and Chemicals during the third quarter worth $3,595,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APD. Argus upped their price objective on Air Products and Chemicals from $316.00 to $329.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. UBS Group decreased their price objective on Air Products and Chemicals from $336.00 to $305.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Weiss Ratings upgraded Air Products and Chemicals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 target price on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Finally, Barclays initiated coverage on shares of Air Products and Chemicals in a report on Monday, October 12th. They issued an “overweight” rating and a $353.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.88.

Air Products and Chemicals Stock Down 1.0%

Shares of NYSE APD opened at $312.83 on Wednesday. The firm has a market cap of $69.66 billion, a P/E 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 quick ratio of 0.92 and a current ratio of 1.08. Air Products and Chemicals, Inc. has a 1 year low of $229.11 and a 1 year high of $319.98. The firm’s 50 day moving average price is $294.60 and its 200 day moving average price is $290.21.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Monday, January 4th will be issued a dividend of $1.81 per share. 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 dividend payout ratio (DPR) is -3,290.91%.

About Air Products and Chemicals

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.