Nikko Asset Management Americas Inc. Has $2.92 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Nikko Asset Management Americas Inc. lessened its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 15.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,062 shares of the basic materials company’s stock after selling 1,888 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Air Products and Chemicals were worth $2,918,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew 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 in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $30,000. Financial Life Planners acquired a new stake in shares of Air Products and Chemicals in the fourth quarter worth $31,000. Finally, WR Wealth Planners LLC grew its holdings in shares of Air Products and Chemicals by 40.3% during 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 in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD opened at $295.96 on Tuesday. The company has a market cap of $65.84 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The stock has a 50-day moving average of $312.79 and a 200-day moving average of $308.25. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last announced 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 net margin of 31.88% and a return on equity of 15.78%. As a group, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.42%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Analyst Ratings Changes

A number of brokerages have commented on APD. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. UBS Group cut their target price on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research 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 on the stock. in a report on Monday, January 27th. Finally, Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $315.00 to $365.00 in a report on Friday, January 24th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.65.

Insider Activity at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the sale, the chief financial officer now owns 10,680 shares in the company, valued at $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 in the last 90 days. 0.41% of the stock is owned by company insiders.

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.