Asset Management One Co. Ltd. Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Asset Management One Co. Ltd. decreased its position in Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 1.7% in the third quarter, HoldingsChannel.com reports. The fund owned 91,406 shares of the basic materials company’s stock after selling 1,576 shares during the period. Asset Management One Co. Ltd.’s holdings in Air Products and Chemicals were worth $21,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Public Investment Fund grew its position in Air Products and Chemicals by 269.2% during the 2nd quarter. Public Investment Fund now owns 2,685,331 shares of the basic materials company’s stock worth $645,768,000 after purchasing an additional 1,957,991 shares during the period. Nordea Investment Management AB grew its position in shares of Air Products and Chemicals by 5,609.4% during the 2nd quarter. Nordea Investment Management AB now owns 718,301 shares of the basic materials company’s stock valued at $168,758,000 after acquiring an additional 705,720 shares during the period. Credit Suisse AG grew its position in shares of Air Products and Chemicals by 89.5% during the 2nd quarter. Credit Suisse AG now owns 1,382,411 shares of the basic materials company’s stock valued at $332,443,000 after acquiring an additional 652,949 shares during the period. Invesco Ltd. grew its position in shares of Air Products and Chemicals by 36.3% during the 1st quarter. Invesco Ltd. now owns 1,287,687 shares of the basic materials company’s stock valued at $321,806,000 after acquiring an additional 342,982 shares during the period. Finally, Truist Financial Corp grew its position in shares of Air Products and Chemicals by 187.0% during the 2nd quarter. Truist Financial Corp now owns 463,054 shares of the basic materials company’s stock valued at $111,355,000 after acquiring an additional 301,713 shares during the period. Hedge funds and other institutional investors own 82.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their target price on Air Products and Chemicals from $295.00 to $290.00 in a research report on Friday, November 4th. Morgan Stanley cut Air Products and Chemicals from an “overweight” rating to an “equal weight” rating and set a $335.00 price objective on the stock. in a report on Tuesday, January 10th. The Goldman Sachs Group lifted their price objective on Air Products and Chemicals from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Air Products and Chemicals from $292.00 to $340.00 in a report on Wednesday, December 7th. Finally, Berenberg Bank lowered their price objective on Air Products and Chemicals from $290.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, October 12th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $313.79.

Air Products and Chemicals Price Performance

Shares of APD opened at $313.34 on Wednesday. Air Products and Chemicals, Inc. has a fifty-two week low of $216.24 and a fifty-two week high of $328.56. The company has a market capitalization of $69.52 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83. The firm has a 50-day simple moving average of $310.03 and a 200-day simple moving average of $271.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.66 and a current ratio of 1.81.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.12. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.23 billion. Air Products and Chemicals had a net margin of 17.77% and a return on equity of 16.31%. The firm’s revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.51 earnings per share. On average, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 11.42 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Tuesday, January 3rd will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.07%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.91%.

Insider Transactions at Air Products and Chemicals

In other news, VP Sean D. Major sold 485 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $313.00, for a total transaction of $151,805.00. Following the completion of the transaction, the vice president now directly owns 14,275 shares of the company’s stock, valued at approximately $4,468,075. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Air Products and Chemicals Profile

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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.

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Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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