Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 68.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,945 shares of the basic materials company’s stock after selling 35,137 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Air Products and Chemicals were worth $3,985,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SJS Investment Consulting Inc. bought a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $30,000. Rise Advisors LLC boosted its stake in shares of Air Products and Chemicals by 57.7% during the 1st quarter. Rise Advisors LLC now owns 123 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 45 shares during the period. Rational Advisors LLC boosted its stake in shares of Air Products and Chemicals by 68.6% during the 1st quarter. Rational Advisors LLC now owns 145 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 59 shares during the period. Quent Capital LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $40,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in Air Products and Chemicals by 617.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 165 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 142 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.
Air Products and Chemicals Price Performance
Air Products and Chemicals stock opened at $247.36 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.72 and a current ratio of 1.87. Air Products and Chemicals, Inc. has a 52 week low of $216.24 and a 52 week high of $316.39. The stock has a market capitalization of $54.86 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 1.69 and a beta of 0.79. The stock has a fifty day moving average of $250.58 and a 200-day moving average of $244.06.
Air Products and Chemicals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 3rd will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.62%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.16%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on APD shares. Wells Fargo & Company dropped their price target on Air Products and Chemicals from $255.00 to $243.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. UBS Group dropped their price target on Air Products and Chemicals from $321.00 to $295.00 in a report on Wednesday, July 13th. Mizuho dropped their price target on Air Products and Chemicals from $312.00 to $286.00 and set a “buy” rating for the company in a report on Thursday, July 7th. BMO Capital Markets raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $283.00 to $321.00 in a report on Monday, August 15th. Finally, JPMorgan Chase & Co. lifted their price target on Air Products and Chemicals from $275.00 to $295.00 in a report on Friday, August 5th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.56.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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