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

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the 3rd quarter, Holdings Channel reports. The firm acquired 62,047 shares of the basic materials company’s stock, valued at approximately $17,263,000.

Other institutional investors also recently modified their holdings of the company. Fiduciary Financial Advisors bought a new position in Air Products and Chemicals during the second quarter worth $25,000. Cornerstone Planning Group LLC grew its holdings in Air Products and Chemicals by 318.2% in the first quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 70 shares during the period. Main Street Group LTD bought a new stake in Air Products and Chemicals in the first quarter valued at $27,000. MJT & Associates Financial Advisory Group Inc. increased its stake in Air Products and Chemicals by 77.6% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 103 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 45 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Air Products and Chemicals during the third quarter valued at about $30,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays started coverage on shares of Air Products and Chemicals in a research report on Monday, October 12th. They set an “overweight” rating and a $353.00 price objective on the stock. Mizuho boosted their target price on Air Products and Chemicals from $345.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. UBS Group dropped their price target on Air Products and Chemicals from $336.00 to $305.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $373.00 price target on shares of Air Products and Chemicals in a report on Friday, July 31st. Finally, Weiss Ratings raised Air Products and Chemicals from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 27th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $333.88.

Air Products and Chemicals Stock Down 1.0%

Shares of NYSE APD opened at $312.83 on Wednesday. The stock has a market capitalization of $69.66 billion, a P/E ratio of -1,421.94, a P/E/G ratio of 2.98 and a beta of 0.67. The company has a 50-day moving average price of $294.60 and a 200-day moving average price of $290.21. Air Products and Chemicals, Inc. has a 1 year low of $229.11 and a 1 year high of $319.98. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be paid a dividend of $1.81 per share. The ex-dividend date is Monday, January 4th. This represents a $7.24 dividend on an annualized basis and a yield of 2.3%. Air Products and Chemicals’s payout ratio is -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.