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

Cullen Investment Group LTD. trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 10.7% in the fourth quarter, Holdings Channel.com reports. The fund 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 reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Air Products and Chemicals by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after purchasing an additional 88,806 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Air Products and Chemicals by 4.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock valued at $790,371,000 after buying an additional 122,676 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after buying an additional 2,884,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Air Products and Chemicals by 127.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after purchasing an additional 1,564,169 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Air Products and Chemicals by 1.7% during the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after purchasing an additional 33,313 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $301.87 on Tuesday. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84. The business has a 50-day moving average of $309.32 and a 200 day moving average of $293.04. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Air Products and Chemicals Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on APD shares. 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. Citigroup lifted their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a report on Monday, November 18th. BMO Capital Markets lifted their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. dropped their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

About Air Products and Chemicals

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.