Arizona State Retirement System Purchases 1,307 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Arizona State Retirement System boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 65,263 shares of the basic materials company's stock after acquiring an additional 1,307 shares during the period. Arizona State Retirement System's holdings in Air Products and Chemicals were worth $19,247,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $715,000. Ritholtz Wealth Management grew its holdings in Air Products and Chemicals by 20.9% during the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock worth $473,000 after acquiring an additional 277 shares during the period. Mantle Ridge LP acquired a new stake in Air Products and Chemicals during the 4th quarter worth $1,191,344,000. Proficio Capital Partners LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $246,000. Finally, Allstate Corp acquired a new stake in Air Products and Chemicals during the 4th quarter worth $1,917,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.7%

NYSE APD traded down $1.98 on Friday, reaching $292.13. The company had a trading volume of 1,042,263 shares, compared to its average volume of 1,361,929. The company's fifty day moving average is $278.81 and its 200-day moving average is $290.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm has a market capitalization of $65.01 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 5.60 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $2.85 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals's payout ratio is 104.07%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays lowered their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. UBS Group lifted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup lifted their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Finally, Wells Fargo & Company reduced 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 research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five 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 an average rating of "Moderate Buy" and a consensus target price of $332.12.

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.