New York State Common Retirement Fund Cuts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

New York State Common Retirement Fund reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,594 shares of the basic materials company's stock after selling 2,100 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Air Products and Chemicals worth $77,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals during the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its holdings in 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 valued at $30,000 after buying an additional 43 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at $30,000. Financial Life Planners purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at $31,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Air Products and Chemicals

In related news, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction dated 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 in the company, valued at $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Wilbur Mok sold 1,300 shares of Air Products and Chemicals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the completion of the sale, the insider now owns 3,193 shares of the company's stock, valued at $1,008,604.84. The trade was a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,911 shares of company stock worth $4,660,897 over the last three months. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Trading Down 1.4 %

Shares of NYSE:APD traded down $4.34 on Friday, hitting $309.95. 633,954 shares of the company's stock were exchanged, compared to its average volume of 1,727,193. Air Products and Chemicals, Inc. has a 12 month low of $227.10 and a 12 month high of $341.14. The stock has a market capitalization of $68.96 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.14 and a beta of 0.85. The business's 50 day simple moving average is $308.55 and its two-hundred day simple moving average is $304.26. 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 (NYSE:APD - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share 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%. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals's payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

APD has been the subject of a number of recent research reports. UBS Group raised their target price on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Citigroup raised their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a report on Monday, November 11th. BNP Paribas raised shares of Air Products and Chemicals to a "strong-buy" rating in a report on Tuesday, February 11th. Barclays raised shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $315.00 to $365.00 in a report on Friday, January 24th. Finally, Redburn Atlantic upgraded 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 report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of "Moderate Buy" and a consensus price target of $339.94.

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.