Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,962 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,929 shares of the basic materials company’s stock after purchasing an additional 1,962 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Air Products and Chemicals were worth $8,101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedmont Private Capital increased its holdings in Air Products and Chemicals by 9.2% during the third quarter. Wedmont Private Capital now owns 1,503 shares of the basic materials company’s stock valued at $470,000 after buying an additional 126 shares during the last quarter. Tobam increased its stake in shares of Air Products and Chemicals by 50.7% in the 3rd quarter. Tobam now owns 410 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 138 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in Air Products and Chemicals by 12.9% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 456 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 52 shares during the period. Agate Pass Investment Management LLC lifted its position in Air Products and Chemicals by 2.4% during the third quarter. Agate Pass Investment Management LLC now owns 6,902 shares of the basic materials company’s stock valued at $2,055,000 after purchasing an additional 165 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in Air Products and Chemicals by 11.0% in the third quarter. Independence Bank of Kentucky now owns 9,277 shares of the basic materials company’s stock worth $2,762,000 after buying an additional 919 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $310.66 on Friday. The company has a fifty day simple moving average of $310.30 and a two-hundred day simple moving average of $300.85. Air Products and Chemicals, Inc. has a 52 week low of $213.80 and a 52 week high of $341.14. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $69.09 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85.

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 the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 16.34% and a net margin of 31.64%. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.76 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday. Citigroup upped their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a research note on Friday, October 25th. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $339.94.

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.