Miracle Mile Advisors LLC Acquires 702 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Miracle Mile Advisors LLC increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 46.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,213 shares of the basic materials company’s stock after purchasing an additional 702 shares during the period. Miracle Mile Advisors LLC’s holdings in Air Products and Chemicals were worth $642,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Truvestments Capital LLC bought a new stake in shares of Air Products and Chemicals during the 3rd quarter worth about $25,000. Iron Horse Wealth Management LLC lifted its holdings in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Fortitude Family Office LLC boosted its position in Air Products and Chemicals by 58.8% during the fourth quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in Air Products and Chemicals during the third quarter valued at approximately $42,000. Finally, Reston Wealth Management LLC bought a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $47,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

NYSE APD opened at $307.07 on Thursday. The stock has a market cap of $68.29 billion, a P/E ratio of 17.87, a PEG ratio of 3.13 and a beta of 0.84. 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, Inc. has a twelve month low of $212.24 and a twelve month high of $337.00. The company’s 50-day simple moving average is $309.35 and its 200 day simple moving average is $293.39.

Air Products and Chemicals Announces Dividend

The business 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 $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. Air Products and Chemicals’s payout ratio is presently 41.21%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APD shares. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a research note on Monday, October 7th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. BMO Capital Markets boosted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Barclays raised their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $332.71.

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.