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

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Air Products and Chemicals by 11.9%, owning 29,049 shares valued at approximately $8.19 million as of the latest quarter.
• Analysts have given Air Products and Chemicals a "Moderate Buy" average rating, with a consensus price target of $335.06.
• The company recently declared a quarterly dividend of $1.79 per share, resulting in an annualized yield of 2.6% and a dividend payout ratio of 103.02%.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,049 shares of the basic materials company's stock after acquiring an additional 3,084 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Air Products and Chemicals were worth $8,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in shares of Air Products and Chemicals in the 1st quarter worth about $25,000. Saudi Central Bank bought a new stake in Air Products and Chemicals in the first quarter worth about $26,000. Cheviot Value Management LLC bought a new position in shares of Air Products and Chemicals during the 1st quarter valued at approximately $27,000. Citizens National Bank Trust Department increased its stake in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

APD has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Air Products and Chemicals in a research report on Saturday, September 27th. Argus raised Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday, September 12th. UBS Group upped their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Mizuho boosted their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Citigroup lifted their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and an average target price of $335.06.

Insider Activity at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the transaction, the vice president directly owned 8,686 shares in the company, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $271.24 on Monday. The firm's 50 day simple moving average is $287.22 and its 200 day simple moving average is $281.61. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm has a market capitalization of $60.36 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 5.65 and a beta of 0.83.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the firm posted $3.20 earnings per share. The business's quarterly revenue was up 1.2% on a year-over-year basis. Air Products and Chemicals has set its FY 2025 guidance at 11.900-12.100 EPS. Q4 2025 guidance at 3.270-3.470 EPS. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Air Products and Chemicals 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.

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