Resona Asset Management Co. Ltd. Has $22.93 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Air Products and Chemicals by 9.7%, acquiring 6,892 shares in the first quarter, bringing its total to 77,901 shares valued at approximately $22.93 million.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, with a payout ratio of 103.02%, and the dividend will be paid on November 10th to stockholders of record as of October 1st.
• The company's latest earnings report showed an EPS of $3.09, surpassing estimates by $0.10, and revenue reports of $3.02 billion exceeded analyst expectations, confirming a growth of 1.2% year-over-year.

Resona Asset Management Co. Ltd. increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,901 shares of the basic materials company's stock after purchasing an additional 6,892 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Air Products and Chemicals were worth $22,930,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Wayfinding Financial LLC purchased a new stake in Air Products and Chemicals during the 1st quarter worth about $25,000. Cheviot Value Management LLC acquired a new stake in shares of Air Products and Chemicals during the first quarter worth $27,000. Citizens National Bank Trust Department lifted its holdings in shares of Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after buying an additional 100 shares during the period. Sunbelt Securities Inc. grew its position in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after buying an additional 142 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Air Products and Chemicals in the 4th quarter worth about $50,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price for the company. Citigroup upped their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and an average target price of $335.07.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the sale, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Down 0.6%

NYSE APD traded down $1.64 during trading on Friday, hitting $290.53. 1,033,289 shares of the company traded hands, compared to its average volume of 1,318,363. The business has a fifty day simple moving average of $287.41 and a 200 day simple moving average of $288.65. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The company has a market capitalization of $64.66 billion, a P/E ratio of 41.80, a PEG ratio of 6.57 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.20 earnings per share. As a group, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is presently 103.02%.

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.