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

State Farm Mutual Automobile Insurance Co. decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,237,335 shares of the basic materials company’s stock after selling 64,655 shares during the period. Air Products and Chemicals accounts for about 3.2% of State Farm Mutual Automobile Insurance Co.’s holdings, making the stock its 7th biggest position. State Farm Mutual Automobile Insurance Co. owned 0.06% of Air Products and Chemicals worth $3,549,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in Air Products and Chemicals in the 3rd quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth $26,000. Raleigh Capital Management Inc. grew its position in shares of Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares in 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. Finally, Financial Life Planners purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $31,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a report on Friday, January 31st. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.47.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $292.34 on Friday. The company’s fifty day moving average is $311.68 and its 200 day moving average is $308.95. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52 week low of $227.53 and a 52 week high of $341.14. The stock has a market cap of $65.04 billion, a PE ratio of 16.98, a PEG ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released 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%. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, May 12th. Investors 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 yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Insider Buying and Selling at Air Products and Chemicals

In other news, insider Francesco Maione sold 2,016 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the sale, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Melissa N. Schaeffer sold 3,233 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. 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 quarter. Company insiders own 0.41% of the company’s stock.

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.