Resona Asset Management Co. Ltd. Buys Shares of 71,009 Air Products and Chemicals, Inc. (NYSE:APD)

Resona Asset Management Co. Ltd. purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, HoldingsChannel.com reports. The firm 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 made changes to their positions in the company. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. raised its position in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth about $30,000. Financial Life Planners bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $31,000. Finally, WR Wealth Planners LLC increased its stake in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In other news, insider Francesco Maione sold 2,016 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, the insider now owns 3,834 shares of the company’s stock, valued at $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the transaction, the vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 in the last ninety days. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals Stock Down 7.0 %

Air Products and Chemicals stock opened at $263.35 on Friday. The firm has a market capitalization of $58.59 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a 1-year low of $227.53 and a 1-year high of $341.14. The firm’s fifty day moving average price is $308.14 and its two-hundred day moving average price is $309.24. 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 (NYSE:APD) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm 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 represents a $7.16 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 41.58%.

Wall Street Analyst Weigh In

Several brokerages recently commented on APD. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” 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 objective on the stock in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.88.

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.