California Public Employees Retirement System Trims Position in Air Products and Chemicals, Inc. (NYSE:APD)

California Public Employees Retirement System trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 51.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,560 shares of the basic materials company’s stock after selling 287,851 shares during the period. California Public Employees Retirement System owned about 0.12% of Air Products and Chemicals worth $79,633,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Generali Investments Management Co LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. boosted its stake in shares of Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $30,000. Financial Life Planners purchased a new stake in shares of Air Products and Chemicals in the 4th quarter worth $31,000. Finally, WR Wealth Planners LLC raised its holdings in Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup reduced their price target on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $341.47.

Air Products and Chemicals Stock Performance

NYSE APD opened at $294.76 on Tuesday. 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 1-year low of $227.53 and a 1-year high of $341.14. The business has a 50 day simple moving average of $311.24 and a two-hundred day simple moving average of $309.51. The stock has a market capitalization of $65.58 billion, a PE ratio of 17.12, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last posted its 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 31.88% and a return on equity of 15.78%. On average, research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm 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 dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.43%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Insider Activity at Air Products and Chemicals

In other news, VP Sean D. Major sold 4,500 shares of the firm’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 completion of the sale, the vice president now directly owns 14,273 shares of the company’s stock, valued at $4,502,560.58. This trade represents a 23.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Walter L. Nelson sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the transaction, the vice president now directly owns 719 shares in the company, valued at approximately $221,811.50. This represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $4,842,604. 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.