Meiji Yasuda Asset Management Co Ltd. Boosts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,034 shares of the basic materials company’s stock after buying an additional 1,023 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Air Products and Chemicals were worth $9,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of APD. Sachetta LLC purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $27,000. Security National Bank purchased a new stake in Air Products and Chemicals in the fourth quarter worth $27,000. Thompson Investment Management Inc. bought a new position in Air Products and Chemicals in the first quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at $28,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals during the 2nd quarter valued at $32,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on APD shares. UBS Group increased their price target on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research note on Monday, June 10th. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Morgan Stanley upped their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $297.40.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $291.13 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $272.46 and its 200-day moving average price is $258.79. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $301.90. The company has a market cap of $64.72 billion, a PE ratio of 26.28, a PEG ratio of 3.70 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is 63.90%.

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.