Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 30.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,097 shares of the basic materials company’s stock after purchasing an additional 5,209 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Air Products and Chemicals were worth $6,463,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wedmont Private Capital grew its stake in Air Products and Chemicals by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 1,503 shares of the basic materials company’s stock worth $470,000 after acquiring an additional 126 shares during the period. Tobam grew its position in shares of Air Products and Chemicals by 50.7% in the third quarter. Tobam now owns 410 shares of the basic materials company’s stock valued at $122,000 after purchasing an additional 138 shares during the period. Pinnacle Bancorp Inc. increased its stake in Air Products and Chemicals by 12.9% in the third quarter. Pinnacle Bancorp Inc. now owns 456 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 52 shares during the last quarter. Agate Pass Investment Management LLC lifted its position in Air Products and Chemicals by 2.4% during the third quarter. Agate Pass Investment Management LLC now owns 6,902 shares of the basic materials company’s stock worth $2,055,000 after buying an additional 165 shares during the period. Finally, Independence Bank of Kentucky boosted its stake in Air Products and Chemicals by 11.0% in the 3rd quarter. Independence Bank of Kentucky now owns 9,277 shares of the basic materials company’s stock worth $2,762,000 after buying an additional 919 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Down 5.3 %

Shares of APD opened at $310.66 on Friday. 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, Inc. has a one year low of $213.80 and a one year high of $341.14. The stock has a 50-day moving average price of $310.30 and a 200 day moving average price of $300.85. The company has a market capitalization of $69.09 billion, a P/E ratio of 18.08, a P/E/G ratio of 3.55 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 16.34% and a net margin of 31.64%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.76 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.30%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.21%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APD. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research note on Friday, October 25th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a report on Monday, January 27th. Finally, BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and a consensus target price of $339.94.

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.