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, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 50,087 shares of the basic materials company’s stock, valued at approximately $14,921,000.

A number of other large investors have also made changes to their positions in APD. Forsta AP Fonden increased its position in Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after purchasing an additional 5,400 shares during the last quarter. Jensen Investment Management Inc. grew its stake in shares of Air Products and Chemicals by 65.0% in the third quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after acquiring an additional 5,190 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Air Products and Chemicals by 3.9% during the 3rd quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock worth $13,297,000 after purchasing an additional 1,662 shares during the period. Woodstock Corp grew its holdings in shares of Air Products and Chemicals by 6.5% during the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new stake in Air Products and Chemicals in the 3rd quarter valued at $3,234,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on APD. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research report on Friday, October 25th. Barclays increased their target price on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Monday, November 18th. Finally, Mizuho upped their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Price Performance

APD opened at $334.33 on Monday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $336.42. The stock has a market capitalization of $74.35 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81. The stock’s 50 day moving average price is $315.16 and its 200-day moving average price is $286.11. 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 Announces Dividend

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

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.