Mirae Asset Global Investments Co. Ltd. Acquires New Holdings in Air Products and Chemicals, Inc. $APD

Mirae Asset Global Investments Co. Ltd. bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 62,047 shares of the basic materials company’s stock, valued at approximately $17,263,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ProShare Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1.3% during the third quarter. ProShare Advisors LLC now owns 593,813 shares of the basic materials company’s stock valued at $165,217,000 after purchasing an additional 7,816 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $3,483,000. Grandfield & Dodd LLC increased its stake in shares of Air Products and Chemicals by 0.6% in the third quarter. Grandfield & Dodd LLC now owns 110,064 shares of the basic materials company’s stock valued at $30,623,000 after buying an additional 604 shares during the period. Intrua Financial LLC raised its holdings in Air Products and Chemicals by 5.1% in the 3rd quarter. Intrua Financial LLC now owns 1,966 shares of the basic materials company’s stock valued at $547,000 after buying an additional 95 shares during the last quarter. Finally, Invera Wealth Advisors LLC raised its holdings in Air Products and Chemicals by 5.0% in the 3rd quarter. Invera Wealth Advisors LLC now owns 3,162 shares of the basic materials company’s stock valued at $880,000 after buying an additional 152 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Mizuho raised their price target on shares of Air Products and Chemicals from $345.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. KeyCorp assumed coverage on shares of Air Products and Chemicals in a research note on Thursday, September 10th. They set a “sector weight” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $320.00 price target on shares of Air Products and Chemicals in a report on Monday, August 3rd. Finally, Morgan Stanley set a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $333.88.

Air Products and Chemicals Stock Performance

Shares of APD opened at $312.83 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $69.66 billion, a P/E ratio of -1,421.94, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. The firm’s fifty day simple moving average is $294.60 and its two-hundred day simple moving average is $290.21. Air Products and Chemicals, Inc. has a 12 month low of $229.11 and a 12 month high of $319.98.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 8th. Stockholders of record on Monday, January 4th will be paid a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, January 4th. Air Products and Chemicals’s payout ratio is currently -3,290.91%.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.