Teacher Retirement System of Texas Has $12.63 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Teacher Retirement System of Texas raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 226.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,830 shares of the basic materials company's stock after buying an additional 29,717 shares during the period. Teacher Retirement System of Texas' holdings in Air Products and Chemicals were worth $12,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of APD. Mantle Ridge LP purchased a new position in Air Products and Chemicals in the fourth quarter worth approximately $1,191,344,000. Norges Bank acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $919,721,000. Bank of America Corp DE lifted its position in shares of Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares during the last quarter. Capital International Investors acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth $436,636,000. Finally, GAMMA Investing LLC grew its stake in shares of Air Products and Chemicals by 31,752.0% during the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock worth $368,612,000 after purchasing an additional 1,245,947 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

NYSE:APD traded up $1.54 during midday trading on Friday, reaching $291.84. The stock had a trading volume of 682,381 shares, compared to its average volume of 1,372,195. The stock has a market capitalization of $64.95 billion, a P/E ratio of 42.42, a PEG ratio of 5.60 and a beta of 0.85. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85. The firm's fifty day simple moving average is $276.82 and its 200-day simple moving average is $290.34.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 12.76% and a return on equity of 15.48%. The firm's quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $2.85 EPS. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.45%. Air Products and Chemicals's dividend payout ratio is 104.07%.

Analysts Set New Price Targets

Several analysts have recently weighed in on APD shares. Barclays reduced their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. 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 for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective for the company. Citigroup lifted their target price on 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. Finally, Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus target price of $330.94.

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.