State of Alaska Department of Revenue Has $7.35 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

State of Alaska Department of Revenue cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,349 shares of the basic materials company’s stock after selling 485 shares during the period. State of Alaska Department of Revenue’s holdings in Air Products and Chemicals were worth $7,352,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Air Products and Chemicals by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock valued at $1,448,570,000 after purchasing an additional 88,806 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after buying an additional 2,884,581 shares during the period. Raymond James & Associates raised its position in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after buying an additional 33,313 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Air Products and Chemicals by 3.9% during the 3rd quarter. National Bank of Canada FI now owns 1,867,290 shares of the basic materials company’s stock worth $555,967,000 after acquiring an additional 70,759 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Air Products and Chemicals by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 1,633,381 shares of the basic materials company’s stock worth $486,343,000 after acquiring an additional 19,209 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Trading Down 1.5 %

NYSE APD opened at $328.30 on Friday. The firm has a market capitalization of $73.01 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85. The business’s 50-day moving average price is $310.40 and its two-hundred day moving average price is $300.66. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a 12 month low of $213.07 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.64% and a return on equity of 16.34%. On average, analysts expect that Air Products and Chemicals, Inc. will post 12.76 EPS for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.68%.

Analysts Set New Price Targets

Several research analysts have commented on APD shares. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $330.00 to $350.00 in a research report on Tuesday, January 14th. Citigroup boosted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a research report on Monday, January 27th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $315.00 to $365.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $340.50.

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.