Maryland State Retirement & Pension System Has $4.73 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Maryland State Retirement & Pension System boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,264 shares of the basic materials company’s stock after acquiring an additional 323 shares during the period. Maryland State Retirement & Pension System’s holdings in Air Products and Chemicals were worth $4,727,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of Air Products and Chemicals by 1,696.4% in the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after purchasing an additional 489,350 shares during the period. Envestnet Asset Management Inc. raised its stake in Air Products and Chemicals by 64.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 766,076 shares of the basic materials company’s stock worth $217,106,000 after buying an additional 299,649 shares during the period. International Assets Investment Management LLC raised its stake in Air Products and Chemicals by 26,852.1% during the 4th quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock worth $754,920,000 after buying an additional 274,697 shares during the period. Morgan Stanley raised its stake in Air Products and Chemicals by 4.6% during the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after buying an additional 235,037 shares during the period. Finally, Truist Financial Corp raised its stake in Air Products and Chemicals by 36.4% during the 4th quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock worth $191,687,000 after buying an additional 186,894 shares during the period. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

APD has been the topic of several research analyst reports. TD Cowen raised their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays reduced their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Wolfe Research began coverage on Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 price objective for the company. Finally, Wells Fargo & Company cut Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $277.43.

Air Products and Chemicals Price Performance

NYSE APD traded up $1.67 on Monday, hitting $247.54. 936,854 shares of the company’s stock were exchanged, compared to its average volume of 1,729,548. The stock has a 50-day moving average of $238.59 and a 200-day moving average of $253.49. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 2.66 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company earned $2.74 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts expect that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

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.