Korea Investment CORP Purchases 60,202 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Korea Investment CORP grew its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 71.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 144,102 shares of the basic materials company’s stock after acquiring an additional 60,202 shares during the quarter. Korea Investment CORP owned about 0.06% of Air Products and Chemicals worth $41,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals during the fourth quarter valued at $885,371,000. Sachem Head Capital Management LP bought a new position in shares of Air Products and Chemicals in the 3rd quarter valued at about $163,013,000. TOMS Capital Investment Management LP purchased a new position in Air Products and Chemicals in the third quarter worth about $159,886,000. Proficio Capital Partners LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $71,307,000. Finally, Vanguard Group Inc. raised its position in Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after purchasing an additional 207,404 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APD shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research note on Monday, January 27th. UBS Group dropped their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $341.47.

Insider Activity

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total transaction of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at approximately $1,008,604.84. This trade represents a 28.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,500 shares of company stock worth $4,842,604. Corporate insiders own 0.41% of the company’s stock.

Air Products and Chemicals Trading Up 0.0 %

NYSE:APD opened at $295.40 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The firm has a 50-day simple moving average of $312.18 and a 200-day simple moving average of $308.82. Air Products and Chemicals, Inc. has a one year low of $227.53 and a one year high of $341.14. The firm has a market cap of $65.72 billion, a P/E ratio of 17.15, a P/E/G ratio of 3.07 and a beta of 0.85.

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

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.42%. Air Products and Chemicals’s payout ratio is currently 41.58%.

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.