Retirement Systems of Alabama Sells 756 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Retirement Systems of Alabama lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 48,134 shares of the basic materials company’s stock after selling 756 shares during the period. Retirement Systems of Alabama’s holdings in Air Products and Chemicals were worth $13,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new stake in Air Products and Chemicals during the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. grew its stake in shares of 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 valued at $30,000 after purchasing an additional 43 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $31,000. Iron Horse Wealth Management LLC raised its position in Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Newton One Investments LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $38,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on APD shares. UBS Group lifted their target price on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research note on Monday, January 27th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a research note on Friday, October 25th. Finally, Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $315.00 to $365.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $339.94.

Air Products and Chemicals Trading Down 5.3 %

NYSE APD opened at $310.66 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The stock’s 50-day moving average is $310.30 and its 200-day moving average is $300.85. Air Products and Chemicals, Inc. has a one year low of $213.80 and a one year high of $341.14. The firm has a market cap of $69.09 billion, a P/E ratio of 18.08, a P/E/G ratio of 3.55 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly 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 31.64% and a return on equity of 16.34%. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.76 earnings per share 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 dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is 41.21%.

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.