Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,222 shares of the basic materials company's stock after selling 9,513 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Air Products and Chemicals worth $77,215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $919,721,000. Raymond James Financial Inc. bought a new position in Air Products and Chemicals during the fourth quarter valued at $885,371,000. Capital International Investors bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth about $436,636,000. Orion Portfolio Solutions LLC grew its holdings in Air Products and Chemicals by 1,615.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company's stock valued at $153,723,000 after purchasing an additional 499,110 shares during the last quarter. Finally, Senator Investment Group LP purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $133,551,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on APD shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. BMO Capital Markets cut shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Citigroup reduced their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price target on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays decreased their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $330.38.

Insider Activity at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the completion of the sale, the insider now owns 3,193 shares of the company's stock, valued at approximately $1,008,604.84. The trade was a 28.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francesco Maione sold 2,016 shares of the 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 transaction, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Stock Performance

NYSE APD traded up $5.38 on Friday, hitting $277.54. 1,446,932 shares of the company's stock traded hands, compared to its average volume of 1,482,871. The firm has a market capitalization of $61.75 billion, a PE ratio of 16.12, a P/E/G ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm's 50-day moving average price is $284.40 and its two-hundred day moving average price is $304.09. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Air Products and Chemicals's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 earnings per share. As a group, analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

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.