Resona Asset Management Co. Ltd. Invests $20.64 Million in Air Products and Chemicals, Inc. (NYSE:APD)

Resona Asset Management Co. Ltd. acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 71,009 shares of the basic materials company's stock, valued at approximately $20,636,000.

A number of other institutional investors have also recently made changes to their positions in APD. Generali Investments Management Co LLC bought a new stake in Air Products and Chemicals during the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $30,000. Raleigh Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 69.4% during the fourth 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 period. Financial Life Planners bought a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $31,000. Finally, WR Wealth Planners LLC increased its holdings in Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. The trade was a 45.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company's stock.

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Air Products and Chemicals Stock Performance

Shares of APD traded up $2.74 during mid-day trading on Friday, reaching $264.78. The company had a trading volume of 259,430 shares, compared to its average volume of 1,492,878. The stock has a market capitalization of $58.91 billion, a P/E ratio of 15.37, a PEG ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The stock has a 50 day moving average of $299.42 and a two-hundred day moving average of $307.81. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.78% and a net margin of 31.88%. On average, 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.70%. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio is currently 41.58%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on APD shares. BMO Capital Markets lowered Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. Bank of America cut shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and set a $350.00 price target on the stock. in a report on Monday, January 27th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price for the company in a research report on Friday, January 31st. Citigroup reduced their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $338.24.

About Air Products and Chemicals

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.