Resona Asset Management Co. Ltd. Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Resona Asset Management Co. Ltd. purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 71,009 shares of the basic materials company’s stock, valued at approximately $20,636,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its position in shares of Air Products and Chemicals by 1.6% in the third quarter. Integrated Wealth Concepts LLC now owns 4,315 shares of the basic materials company’s stock worth $1,285,000 after purchasing an additional 69 shares in the last quarter. IHT Wealth Management LLC increased its stake in Air Products and Chemicals by 13.1% in the 3rd quarter. IHT Wealth Management LLC now owns 2,898 shares of the basic materials company’s stock valued at $861,000 after buying an additional 335 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Air Products and Chemicals by 60.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 60,309 shares of the basic materials company’s stock worth $17,850,000 after buying an additional 22,790 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Air Products and Chemicals by 138.3% in the 3rd quarter. Quantinno Capital Management LP now owns 23,861 shares of the basic materials company’s stock valued at $7,105,000 after acquiring an additional 13,846 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Air Products and Chemicals by 53.5% in the third quarter. Kovitz Investment Group Partners LLC now owns 59,349 shares of the basic materials company’s stock valued at $16,717,000 after acquiring an additional 20,687 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APD has been the subject of several recent research reports. 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 research note on Friday, March 14th. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research note on Monday, January 27th. Finally, Wells Fargo & Company boosted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.88.

Air Products and Chemicals Stock Down 7.0 %

Shares of APD opened at $263.35 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $58.59 billion, a PE ratio of 15.29, a P/E/G ratio of 3.07 and a beta of 0.88. The firm’s 50 day moving average is $308.14 and its 200-day moving average is $309.24. 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 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 return on equity of 15.78% and a net margin of 31.88%. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given 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 dividend yield of 2.72%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the transaction, the vice president now owns 719 shares of the company’s stock, valued at approximately $221,811.50. The trade was a 45.03 % 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, CFO Melissa N. Schaeffer sold 3,233 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the sale, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. The trade was a 23.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,842,604 over the last three months. 0.41% of the stock is owned by insiders.

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.