Erste Asset Management GmbH Invests $14.92 Million in Air Products and Chemicals, Inc. (NYSE:APD)

Erste Asset Management GmbH bought a new position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,087 shares of the basic materials company's stock, valued at approximately $14,921,000.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its position in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock valued at $861,722,000 after acquiring an additional 2,884,581 shares during the last quarter. National Bank of Canada FI increased its position in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company's stock valued at $444,352,000 after acquiring an additional 1,737,260 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company's stock valued at $720,597,000 after acquiring an additional 1,564,169 shares during the last quarter. ING Groep NV grew its holdings in shares of Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company's stock worth $304,717,000 after purchasing an additional 723,019 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its holdings in shares of Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company's stock worth $282,473,000 after purchasing an additional 722,132 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded down $0.31 during midday trading on Monday, reaching $334.02. 223,939 shares of the stock were exchanged, compared to its average volume of 1,611,127. The firm has a market cap of $74.28 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 3.35 and a beta of 0.81. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $336.42. The firm has a 50-day simple moving average of $315.16 and a two-hundred day simple moving average of $286.11. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given 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 is Thursday, January 2nd. Air Products and Chemicals's payout ratio is 41.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APD. The Goldman Sachs Group upped their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. Barclays increased their price target on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a research report on Friday, October 11th. Finally, Redburn Atlantic raised shares of 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. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $331.53.

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.