Air Products and Chemicals, Inc. (NYSE:APD) Stock Holdings Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 177,355 shares of the basic materials company’s stock after selling 6,676 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Air Products and Chemicals worth $51,440,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Silver Oak Securities Incorporated lifted its position in shares of Air Products and Chemicals by 1.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after buying an additional 32 shares during the last quarter. CX Institutional lifted its position in Air Products and Chemicals by 2.6% in the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 34 shares during the last quarter. Bank of Stockton lifted its position in Air Products and Chemicals by 1.9% in the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 34 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its position in Air Products and Chemicals by 1.7% in the 3rd quarter. Chesapeake Wealth Management now owns 2,189 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 37 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Insider Transactions at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Francesco Maione sold 2,016 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 3,834 shares in the company, valued at $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,749 shares of company stock valued at $3,030,032 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on APD. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded 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. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Monday, January 27th. Citigroup raised their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. reissued 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Moderate Buy” and a consensus price target of $339.94.

Air Products and Chemicals Stock Performance

Shares of APD opened at $316.74 on Friday. The firm’s 50 day moving average is $308.42 and its 200-day moving average is $302.74. The stock has a market capitalization of $70.47 billion, a P/E ratio of 18.39, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.34. Air Products and Chemicals, Inc. has a 12-month low of $220.26 and a 12-month high of $341.14.

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 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%. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.77 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. Stockholders of record on Tuesday, April 1st will be given 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 2.26%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

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.