Air Products and Chemicals, Inc. (NYSE:APD) Stock Position Lessened by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.5% 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 12,237,335 shares of the basic materials company's stock after selling 64,655 shares during the quarter. Air Products and Chemicals comprises approximately 3.2% of State Farm Mutual Automobile Insurance Co.'s holdings, making the stock its 7th largest position. State Farm Mutual Automobile Insurance Co. owned about 5.50% of Air Products and Chemicals worth $3,549,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of APD. SG Americas Securities LLC lifted its position in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company's stock worth $3,914,000 after buying an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Air Products and Chemicals by 59.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company's stock worth $111,488,000 after acquiring an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $7,269,000. Diversify Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company's stock valued at $3,074,000 after purchasing an additional 4,916 shares in the last quarter. Finally, World Investment Advisors LLC increased its position in Air Products and Chemicals by 1,205.1% in the third quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company's stock worth $11,440,000 after purchasing an additional 35,479 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

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Insiders Place Their Bets

In other news, insider Francesco Maione sold 2,016 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the transaction, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,500 shares of company stock worth $4,842,604 in the last three months. Corporate insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on APD. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. BMO Capital Markets lowered Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. UBS Group decreased their price objective on Air Products and Chemicals from $395.00 to $370.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, Citigroup decreased their price target on Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.88.

Air Products and Chemicals Trading Up 0.2 %

APD stock traded up $0.52 during mid-day trading on Wednesday, reaching $293.97. The company had a trading volume of 290,377 shares, compared to its average volume of 1,479,085. The company has a market capitalization of $65.40 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The firm has a 50 day moving average of $310.71 and a 200 day moving average of $309.58. Air Products and Chemicals, Inc. has a 12 month low of $227.53 and a 12 month high of $341.14. 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 announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) 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%. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.44%. Air Products and Chemicals's dividend payout ratio is 41.58%.

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.