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

Nikko Asset Management Americas Inc. decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $885,371,000. Sachem Head Capital Management LP acquired a new position in shares of Air Products and Chemicals in the 3rd quarter worth approximately $163,013,000. TOMS Capital Investment Management LP acquired a new position in shares of Air Products and Chemicals in the 3rd quarter worth approximately $159,886,000. Proficio Capital Partners LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter worth approximately $71,307,000. Finally, Bank of Montreal Can raised its holdings in shares of Air Products and Chemicals by 25.2% in the 3rd quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock worth $350,139,000 after buying an additional 234,322 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.4 %

Shares of APD opened at $295.96 on Tuesday. 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. The firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 3.07 and a beta of 0.85. The business’s fifty day moving average price is $312.79 and its two-hundred day moving average price is $308.25.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APD. BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a report on Tuesday, February 11th. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. UBS Group dropped their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a report on Friday. Finally, Sanford C. Bernstein raised 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 report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $342.65.

Insider Transactions at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This trade represents a 45.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 in the last three months. Insiders own 0.41% of the company’s stock.

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.