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

QRG Capital Management Inc. grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,903 shares of the basic materials company’s stock after purchasing 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 quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. ING Groep NV increased its holdings in Air Products and Chemicals by 240.7% during the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after buying an additional 723,019 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Air Products and Chemicals by 318.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock worth $282,473,000 after purchasing an additional 722,132 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after purchasing an additional 721,671 shares during the period. Sachem Head Capital Management LP acquired a new stake in Air Products and Chemicals in the 3rd quarter valued at about $163,013,000. Finally, TOMS Capital Investment Management LP bought a new position in Air Products and Chemicals during the third quarter worth about $159,886,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 1.3 %

Shares of NYSE:APD opened at $316.55 on Friday. The business’s 50 day simple moving average is $310.00 and its 200 day simple moving average is $305.95. 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 capitalization of $70.42 billion, a P/E ratio of 18.38, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. On average, research analysts anticipate 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. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a 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

Several research firms have issued reports on APD. 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. Wells Fargo & Company increased their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group lifted their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have assigned 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $343.53.

Insider Activity

In related news, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction 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 sale, the vice president now owns 14,273 shares of the company’s stock, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,911 shares of company stock worth $4,660,897. 0.41% of the stock is currently owned by corporate insiders.

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.