Nomura Asset Management Co. Ltd. Raises Position in Air Products and Chemicals, Inc. (NYSE:APD)

Nomura Asset Management Co. Ltd. lifted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 317,020 shares of the basic materials company’s stock after purchasing an additional 3,733 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.14% of Air Products and Chemicals worth $94,390,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of APD. MML Investors Services LLC boosted its stake in Air Products and Chemicals by 6.4% during the third quarter. MML Investors Services LLC now owns 72,000 shares of the basic materials company’s stock worth $21,437,000 after buying an additional 4,317 shares during the period. Headinvest LLC grew its holdings in Air Products and Chemicals by 7.9% during the 3rd quarter. Headinvest LLC now owns 1,303 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 95 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC grew its holdings in Air Products and Chemicals by 0.9% during the 3rd quarter. Bontempo Ohly Capital Mgmt LLC now owns 15,148 shares of the basic materials company’s stock valued at $4,510,000 after purchasing an additional 131 shares during the last quarter. National Bank of Canada FI raised its position in Air Products and Chemicals by 3.9% in the 3rd quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after purchasing an additional 70,759 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Air Products and Chemicals by 3.1% in the third quarter. EP Wealth Advisors LLC now owns 12,082 shares of the basic materials company’s stock worth $3,597,000 after purchasing an additional 365 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $320.11 on Monday. The stock’s 50-day moving average is $318.21 and its 200 day moving average is $288.37. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $337.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company has a market cap of $71.19 billion, a P/E ratio of 18.63, a PEG ratio of 3.28 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is currently 41.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APD shares. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. BMO Capital Markets increased their target price on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Barclays upped their price target on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals 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.