Maryland State Retirement & Pension System Sells 830 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Maryland State Retirement & Pension System reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,854 shares of the basic materials company’s stock after selling 830 shares during the period. Maryland State Retirement & Pension System’s holdings in Air Products and Chemicals were worth $3,438,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in APD. Truvestments Capital LLC purchased a new position in Air Products and Chemicals during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. grew its stake in 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 acquiring an additional 43 shares in the last quarter. Sierra Ocean LLC purchased a new position in Air Products and Chemicals during the fourth quarter valued at approximately $30,000. Financial Life Planners purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $31,000. Finally, WR Wealth Planners LLC boosted 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 valued at $31,000 after purchasing an additional 31 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Kurt Lefevere sold 1,500 shares of Air Products and Chemicals stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the sale, the insider now owns 1,462 shares in the company, valued at $462,240.54. The trade was a 50.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Walter L. Nelson sold 589 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the transaction, the vice president now owns 719 shares of the company’s stock, valued at $221,811.50. This trade represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,842,604 in the last 90 days. Insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

APD opened at $294.43 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $313.07 and its 200 day simple moving average is $308.24. The firm has a market cap of $65.50 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1 year low of $227.53 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its earnings results 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%. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. 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 dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Analysts Set New Price Targets

Several research firms have recently weighed in on APD. Wells Fargo & Company upped their price target 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. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. Finally, UBS Group cut their price target on shares of Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $342.65.

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.