QRG Capital Management Inc. Has $2.87 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

QRG Capital Management Inc. lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,903 shares of the basic materials company’s stock after acquiring an additional 137 shares during the quarter. QRG Capital Management Inc.’s holdings in Air Products and Chemicals were worth $2,872,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of Air Products and Chemicals by 12.6% during the third quarter. Assenagon Asset Management S.A. now owns 5,793 shares of the basic materials company’s stock valued at $1,725,000 after purchasing an additional 647 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Air Products and Chemicals by 6.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,294 shares of the basic materials company’s stock valued at $628,000 after buying an additional 147 shares during the last quarter. Stephens Inc. AR boosted its position in Air Products and Chemicals by 5.3% during the 3rd quarter. Stephens Inc. AR now owns 37,811 shares of the basic materials company’s stock worth $11,258,000 after buying an additional 1,895 shares during the period. Principal Securities Inc. grew its holdings in Air Products and Chemicals by 7.4% during the 3rd quarter. Principal Securities Inc. now owns 17,412 shares of the basic materials company’s stock worth $5,184,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in Air Products and Chemicals by 5.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,042 shares of the basic materials company’s stock valued at $1,204,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now directly owns 3,193 shares in the company, valued at approximately $1,008,604.84. The trade was a 28.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,911 shares of company stock valued at $4,660,897. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Trading Up 1.3 %

NYSE:APD opened at $316.55 on Friday. The firm has a fifty day simple moving average of $310.00 and a two-hundred day simple moving average of $305.95. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. The stock has a market capitalization of $70.42 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.07 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APD. Citigroup lifted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. UBS Group increased their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. 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, Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $343.53.

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.