New York State Common Retirement Fund Trims Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

New York State Common Retirement Fund trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 268,594 shares of the basic materials company’s stock after selling 2,100 shares during the period. New York State Common Retirement Fund’s holdings in Air Products and Chemicals were worth $77,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in Air Products and Chemicals during the third quarter worth about $25,000. Raleigh Capital Management Inc. grew its position in Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after buying an additional 43 shares in the last quarter. Sierra Ocean LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $30,000. Financial Life Planners purchased a new position in Air Products and Chemicals during the fourth quarter worth about $31,000. Finally, Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Down 0.0 %

APD opened at $316.89 on Thursday. The business has a 50 day simple moving average of $308.49 and a two-hundred day simple moving average of $304.19. The firm has a market capitalization of $70.50 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 3.13 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 0.96. Air Products and Chemicals, Inc. has a one year low of $225.26 and a one year high of $341.14.

Air Products and Chemicals (NYSE:APD) last released its quarterly 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 predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current 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 of this dividend 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. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. UBS Group upped their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Redburn Atlantic upgraded 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Insider Transactions at Air Products and Chemicals

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the transaction, the chief financial officer now owns 10,680 shares of the company’s stock, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francesco Maione sold 2,016 shares of the 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 transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at $1,173,204. This represents a 34.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,411 shares of company stock valued at $4,186,642. Corporate insiders own 0.41% of the company’s stock.

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.