Asset Management One Co. Ltd. Sells 1,576 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Asset Management One Co. Ltd. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,406 shares of the basic materials company’s stock after selling 1,576 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Air Products and Chemicals were worth $21,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APD. Sierra Capital LLC raised its position in shares of Air Products and Chemicals by 1,060.0% during the second quarter. Sierra Capital LLC now owns 116 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 106 shares during the period. Western Pacific Wealth Management LP bought a new stake in Air Products and Chemicals during the third quarter worth $31,000. Artemis Wealth Advisors LLC bought a new stake in Air Products and Chemicals during the second quarter worth $33,000. Heritage Financial Services LLC bought a new stake in Air Products and Chemicals during the second quarter worth $36,000. Finally, Tobam bought a new stake in Air Products and Chemicals during the third quarter worth $51,000. 82.74% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 1.5 %

Air Products and Chemicals stock opened at $313.34 on Wednesday. The firm has a market cap of $69.52 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 2.04 and a beta of 0.83. The stock has a fifty day simple moving average of $310.03 and a two-hundred day simple moving average of $271.23. Air Products and Chemicals, Inc. has a 12 month low of $216.24 and a 12 month high of $328.56. The company has a current ratio of 1.81, a quick ratio of 1.66 and a debt-to-equity ratio of 0.52.

Air Products and Chemicals (NYSE:APD – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.77 by $0.12. Air Products and Chemicals had a return on equity of 16.31% and a net margin of 17.77%. The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company posted $2.51 earnings per share. Air Products and Chemicals’s revenue was up 25.7% compared to the same quarter last year. Equities analysts predict that Air Products and Chemicals, Inc. will post 11.42 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Investors of record on Tuesday, January 3rd will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, December 30th. Air Products and Chemicals’s payout ratio is currently 63.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APD. Berenberg Bank dropped their price target on Air Products and Chemicals from $290.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, October 12th. Societe Generale cut Air Products and Chemicals from a “buy” rating to a “hold” rating and set a $340.00 price target on the stock. in a report on Thursday, January 12th. BMO Capital Markets raised their price target on Air Products and Chemicals from $339.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Mizuho raised their price target on Air Products and Chemicals from $290.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, January 12th. Finally, Seaport Res Ptn raised Air Products and Chemicals from a “neutral” rating to a “buy” rating in a report on Thursday, October 13th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $313.79.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Sean D. Major sold 485 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $313.00, for a total transaction of $151,805.00. Following the completion of the sale, the vice president now owns 14,275 shares of the company’s stock, valued at $4,468,075. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

About Air Products and Chemicals

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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; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, manufacturing, electronics, magnetic resonance imaging, energy production, medical, food, and metals.