Kentucky Retirement Systems Lowers Position in Air Products and Chemicals, Inc. (NYSE:APD)

Kentucky Retirement Systems trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,277 shares of the basic materials company’s stock after selling 211 shares during the quarter. Kentucky Retirement Systems’ holdings in Air Products and Chemicals were worth $4,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals in the third quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in Air Products and Chemicals in the fourth quarter worth about $30,000. Raleigh Capital Management Inc. boosted its stake in 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 acquiring an additional 43 shares during the last quarter. Financial Life Planners bought a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $31,000. Finally, Newton One Investments LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $38,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $310.02 on Friday. The business has a 50-day simple moving average of $308.50 and a 200 day simple moving average of $304.48. Air Products and Chemicals, Inc. has a 52 week low of $227.10 and a 52 week high of $341.14. The stock has a market cap of $68.97 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 3.14 and a beta of 0.85. 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 (NYSE:APD) last posted its quarterly earnings data 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%. On average, research analysts forecast 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 business also recently disclosed 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 an increase 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 2.31%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.11%.

Analyst Upgrades and Downgrades

Several research firms recently commented on APD. Citigroup upped their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a research report on Friday, January 31st. BMO Capital Markets downgraded Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Insider Buying and Selling

In other news, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 3,834 shares of the company’s stock, valued at $1,173,204. This trade represents a 34.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,911 shares of company stock worth $4,660,897. Corporate 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.