New Mexico Educational Retirement Board Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

New Mexico Educational Retirement Board reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,600 shares of the basic materials company’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Air Products and Chemicals were worth $3,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APD. Pathway Financial Advisers LLC boosted its holdings in shares of Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares in the last quarter. ING Groep NV boosted its holdings in shares of Air Products and Chemicals by 240.7% in the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after purchasing an additional 723,019 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Air Products and Chemicals by 318.7% in 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 in the last quarter. Van ECK Associates Corp boosted 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 worth $249,698,000 after purchasing an additional 721,671 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Air Products and Chemicals by 29,957.6% in the 3rd quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock worth $2,138,000,000 after purchasing an additional 715,686 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.5 %

Shares of NYSE:APD opened at $316.74 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $220.26 and a 52-week high of $341.14. The firm has a market capitalization of $70.44 billion, a P/E ratio of 18.39, a P/E/G ratio of 3.47 and a beta of 0.85. The stock has a 50 day moving average price of $308.36 and a 200-day moving average price of $303.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.34 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) 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%. As a group, 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. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.26%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is currently 41.11%.

Wall Street Analyst Weigh In

APD has been the subject of a number of research reports. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Wells Fargo & Company increased their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. restated 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. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a report on Friday, January 31st. Finally, Citigroup increased their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.94.

Insider Buying and Selling

In related news, VP Sean D. Major sold 4,500 shares of the company’s 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 sale, the vice president now owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the sale, the insider now owns 3,834 shares in the company, valued at $1,173,204. The trade was a 34.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,749 shares of company stock worth $3,030,032 in the last 90 days. Insiders own 0.41% of the company’s stock.

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.