Taikang Asset Management Hong Kong Co Ltd Sells 8,148 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Taikang Asset Management Hong Kong Co Ltd cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 27.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,726 shares of the basic materials company’s stock after selling 8,148 shares during the period. Air Products and Chemicals makes up approximately 0.9% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 29th biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Air Products and Chemicals were worth $6,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $885,371,000. Sachem Head Capital Management LP acquired a new stake in Air Products and Chemicals in the third quarter valued at approximately $163,013,000. TOMS Capital Investment Management LP bought a new stake in shares of Air Products and Chemicals during the third quarter valued at approximately $159,886,000. Proficio Capital Partners LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $71,307,000. Finally, Bank of Montreal Can lifted its holdings in shares of Air Products and Chemicals by 25.2% in the 3rd quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock worth $350,139,000 after purchasing an additional 234,322 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Air Products and Chemicals

In related news, VP Walter L. Nelson sold 589 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilbur Mok sold 1,300 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the sale, the insider now directly owns 3,193 shares of the company’s stock, valued at $1,008,604.84. This represents a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock valued at $4,842,604 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Air Products and Chemicals Trading Up 0.8 %

NYSE:APD opened at $294.06 on Tuesday. The stock has a market capitalization of $65.42 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The firm’s 50 day moving average is $313.04 and its 200 day moving average is $308.84. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.43%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APD shares. Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, UBS Group decreased their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.65.

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.