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 boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,929 shares of the basic materials company’s stock after acquiring 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Silver Oak Securities Incorporated grew its holdings in shares of Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 32 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Air Products and Chemicals by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after buying an additional 34 shares during the period. CX Institutional increased its position in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock worth $400,000 after acquiring an additional 34 shares during the period. Bank of Stockton raised its stake in shares of Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after acquiring an additional 34 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 37 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

Shares of NYSE APD opened at $310.66 on Friday. Air Products and Chemicals, Inc. has a fifty-two week low of $213.80 and a fifty-two week high of $341.14. The company has a market cap of $69.09 billion, a PE ratio of 18.08, a P/E/G ratio of 3.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The business has a 50-day simple moving average of $310.30 and a two-hundred day simple moving average of $300.85.

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 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%. As a group, equities analysts expect that Air Products and Chemicals, Inc. will post 12.76 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. 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 dividend on an annualized basis and a yield of 2.30%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on APD shares. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $315.00 to $365.00 in a research report on Friday, January 24th. 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 report on Friday. Wells Fargo & Company increased 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 report on Friday. 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 for the company. in a research report on Monday, January 27th. Finally, Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $339.94.

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.