Cullen Investment Group LTD. Sells 2,064 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cullen Investment Group LTD. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,301 shares of the basic materials company’s stock after selling 2,064 shares during the quarter. Cullen Investment Group LTD.’s holdings in Air Products and Chemicals were worth $5,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Marcum Wealth LLC lifted its holdings in shares of Air Products and Chemicals by 2.5% during the 4th quarter. Marcum Wealth LLC now owns 1,530 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 38 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $435,000. Armstrong Henry H Associates Inc. increased its position in shares of Air Products and Chemicals by 11.5% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 62,944 shares of the basic materials company’s stock worth $18,256,000 after purchasing an additional 6,475 shares during the last quarter. PFW Advisors LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $1,045,000. Finally, Marion Wealth Management boosted its stake in Air Products and Chemicals by 0.7% in the 4th quarter. Marion Wealth Management now owns 5,376 shares of the basic materials company’s stock valued at $1,559,000 after purchasing an additional 37 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 3.0 %

Shares of NYSE:APD opened at $301.87 on Tuesday. The company has a market cap of $67.13 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm has a 50 day simple moving average of $309.32 and a 200 day simple moving average of $293.04. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $337.00.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Wall Street Analysts Forecast Growth

APD has been the subject of several recent analyst reports. BMO Capital Markets upped their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a report on Friday, October 25th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Monday, October 7th. Wells Fargo & Company upped their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Finally, Mizuho increased their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Company 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.