Public Employees Retirement System of Ohio Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Public Employees Retirement System of Ohio bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 94,319 shares of the basic materials company's stock, valued at approximately $27,356,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APD. Generali Investments Management Co LLC purchased a new stake in Air Products and Chemicals in the fourth quarter worth approximately $26,000. Raleigh Capital Management Inc. raised its stake in shares of 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 during the last quarter. Sierra Ocean LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $30,000. Financial Life Planners purchased a new stake in Air Products and Chemicals in the fourth quarter worth $31,000. Finally, WR Wealth Planners LLC lifted its stake in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after acquiring an additional 31 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the transaction, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. The trade was a 45.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Performance

NYSE APD traded down $2.10 during trading hours on Thursday, hitting $269.66. The company's stock had a trading volume of 400,275 shares, compared to its average volume of 1,441,419. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The company's 50 day simple moving average is $272.65 and its two-hundred day simple moving average is $298.05. The company has a market cap of $60.01 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data 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 15.78% and a net margin of 31.88%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business posted $2.85 earnings per share. Air Products and Chemicals's quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.66%. Air Products and Chemicals's payout ratio is 104.07%.

Wall Street Analyst Weigh In

APD has been the subject of a number of research analyst reports. Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Wall Street Zen lowered Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Morgan Stanley initiated coverage on Air Products and Chemicals in a research report on Thursday. They set an "equal weight" rating and a $290.00 price objective for the company. UBS Group lowered their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, BMO Capital Markets lowered Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.00.

About Air Products and Chemicals

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.