New York State Common Retirement Fund Sells 22,731 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

New York State Common Retirement Fund lowered its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,546 shares of the basic materials company's stock after selling 22,731 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Air Products and Chemicals worth $83,932,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $27,000. Rakuten Securities Inc. bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $33,000. Legacy Bridge LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $35,000. Cetera Trust Company N.A acquired a new position in Air Products and Chemicals in the 4th quarter worth approximately $35,000. Finally, FinTrust Capital Advisors LLC boosted its stake in Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company's stock worth $37,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

NYSE:APD traded down $0.58 on Tuesday, reaching $233.78. The stock had a trading volume of 1,175,212 shares, compared to its average volume of 1,737,782. The company has a market capitalization of $51.97 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The stock has a fifty day moving average price of $236.12 and a 200-day moving average price of $256.79.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing analysts' consensus estimates of $3.00 by ($0.18). The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. Air Products and Chemicals's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.64 earnings per share. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a dividend of $1.77 per share. This is a positive change from Air Products and Chemicals's previous quarterly dividend of $1.75. The ex-dividend date is Thursday, March 28th. This represents a $7.08 annualized dividend and a yield of 3.03%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 67.56%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group downgraded shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating and cut their target price for the stock from $328.00 to $241.00 in a research report on Thursday, February 8th. Bank of America upgraded shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $264.00 price target on the stock in a research report on Thursday, February 15th. TD Cowen decreased their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an "outperform" rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. decreased their price target on shares of Air Products and Chemicals from $295.00 to $270.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 6th. Finally, Barclays decreased their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of "Hold" and a consensus target price of $276.36.

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.