Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,887 shares of the basic materials company’s stock after selling 5,081 shares during the period. Daiwa Securities Group Inc.’s holdings in Air Products and Chemicals were worth $16,671,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in APD. Telos Capital Management Inc. acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $1,031,000. AM Squared Ltd lifted its stake in Air Products and Chemicals by 33.3% during the fourth quarter. AM Squared Ltd now owns 400 shares of the basic materials company’s stock valued at $110,000 after buying an additional 100 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Air Products and Chemicals in the fourth quarter worth about $33,000. Guidance Capital Inc. boosted its holdings in shares of Air Products and Chemicals by 18.0% in the fourth quarter. Guidance Capital Inc. now owns 2,346 shares of the basic materials company’s stock worth $642,000 after buying an additional 358 shares during the period. Finally, Slow Capital Inc. increased its position in shares of Air Products and Chemicals by 14.1% in the fourth quarter. Slow Capital Inc. now owns 6,138 shares of the basic materials company’s stock worth $1,688,000 after acquiring an additional 758 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Up 0.5 %

NYSE:APD opened at $229.01 on Thursday. The company has a market capitalization of $50.91 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.50 and a beta of 0.81. The stock’s 50 day moving average price is $235.38 and its 200 day moving average price is $257.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the company earned $2.64 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS 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 13th. Shareholders of record on Monday, April 1st will be given a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. Air Products and Chemicals’s payout ratio is currently 67.56%.

Analysts Set New Price Targets

APD has been the subject of a number of recent analyst reports. Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Wolfe Research assumed coverage on Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price for the company. Citigroup upped their price target on Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. BMO Capital Markets reduced their price objective on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Finally, Barclays lowered their target price on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.36.

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.