Mitsubishi UFJ Asset Management Co. Ltd. Buys 29,843 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 374,808 shares of the basic materials company’s stock after purchasing an additional 29,843 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Air Products and Chemicals worth $106,412,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of APD. Korea Investment CORP increased its stake in shares of Air Products and Chemicals by 71.8% during the fourth quarter. Korea Investment CORP now owns 144,102 shares of the basic materials company’s stock valued at $41,795,000 after buying an additional 60,202 shares during the period. Cottage Street Advisors LLC grew its holdings in Air Products and Chemicals by 7.4% during the 4th quarter. Cottage Street Advisors LLC now owns 1,004 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 69 shares in the last quarter. TrueMark Investments LLC increased its position in Air Products and Chemicals by 9.2% during the 4th quarter. TrueMark Investments LLC now owns 14,395 shares of the basic materials company’s stock valued at $4,175,000 after purchasing an additional 1,210 shares during the period. Florida Financial Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $225,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Air Products and Chemicals by 6.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,107 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 63 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

NYSE APD opened at $295.40 on Friday. The stock’s fifty day moving average price is $312.18 and its 200 day moving average price is $308.82. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The company has a market cap of $65.72 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data 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%. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase 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 of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Insiders Place Their Bets

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the sale, the chief financial officer now directly owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at $1,173,204. The trade was a 34.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,500 shares of company stock valued at $4,842,604. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APD shares. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group decreased their price objective on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. BMO Capital Markets lowered Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.47.

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.