Erste Asset Management GmbH Buys New Shares in Air Products and Chemicals, Inc. (NYSE:APD)

Erste Asset Management GmbH purchased a new position in Air Products and Chemicals, Inc. (NYSE:APD) during the third quarter, HoldingsChannel reports. The fund purchased 50,087 shares of the basic materials company’s stock, valued at approximately $14,921,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Socorro Asset Management LP increased its stake in Air Products and Chemicals by 0.6% in the third quarter. Socorro Asset Management LP now owns 27,718 shares of the basic materials company’s stock worth $8,253,000 after purchasing an additional 157 shares during the period. Morton Community Bank lifted its position in shares of Air Products and Chemicals by 3.3% during the third quarter. Morton Community Bank now owns 9,705 shares of the basic materials company’s stock valued at $2,890,000 after buying an additional 310 shares during the last quarter. Widmann Financial Services Inc. boosted its holdings in shares of Air Products and Chemicals by 12.2% in the 3rd quarter. Widmann Financial Services Inc. now owns 2,715 shares of the basic materials company’s stock valued at $808,000 after buying an additional 295 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Air Products and Chemicals by 3.0% in the 3rd quarter. Fred Alger Management LLC now owns 26,300 shares of the basic materials company’s stock worth $7,831,000 after buying an additional 776 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its position in Air Products and Chemicals by 2.3% during the third quarter. Icon Wealth Advisors LLC now owns 7,646 shares of the basic materials company’s stock valued at $2,277,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. reduced 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 note on Friday, November 8th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research note on Monday, October 7th. Finally, The Goldman Sachs Group raised their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Up 0.3 %

Shares of NYSE APD opened at $334.33 on Monday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $336.42. 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 market cap of $74.35 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 3.35 and a beta of 0.81. The stock’s 50-day simple moving average is $315.16 and its 200-day simple moving average is $286.11.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.12%. Air Products and Chemicals’s payout ratio is currently 41.21%.

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.