Sachem Head Capital Management LP Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Sachem Head Capital Management LP bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 547,500 shares of the basic materials company’s stock, valued at approximately $163,013,000. Air Products and Chemicals accounts for 8.6% of Sachem Head Capital Management LP’s portfolio, making the stock its 6th largest holding. Sachem Head Capital Management LP owned 0.25% of Air Products and Chemicals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of APD. Truvestments Capital LLC acquired a new position in Air Products and Chemicals in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals during the second quarter valued at $32,000. Iron Horse Wealth Management LLC raised its stake in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC grew its holdings in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in shares of Air Products and Chemicals during the third quarter valued at about $42,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 1.0 %

Shares of NYSE APD opened at $327.48 on Thursday. The stock has a market cap of $72.82 billion, a PE ratio of 19.06, a PEG ratio of 3.36 and a beta of 0.81. The business has a fifty day moving average of $317.37 and a two-hundred day moving average of $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 debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 annualized dividend and a yield of 2.16%. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

Several brokerages have commented on APD. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Barclays upped their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.