Legal & General Group Plc Increases Stake in Air Products and Chemicals

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Legal & General Group Plc, an institutional investor, increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 3.4% during the third quarter. The firm now owns 1,130,644 shares of the basic materials company's stock, worth approximately $308,349,000.

Why it matters

This transaction highlights the continued institutional interest and confidence in Air Products and Chemicals, a major global supplier of industrial gases and related equipment. As a large shareholder, Legal & General Group's increased stake suggests the firm sees long-term growth potential in the company.

The details

According to a disclosure with the Securities & Exchange Commission, Legal & General Group Plc purchased an additional 37,079 shares of Air Products and Chemicals during the third quarter. This increased the firm's total position to approximately 1,130,644 shares, or around 0.51% of the company's outstanding stock.

• The transaction occurred during the third quarter of the year.