New Mexico Educational Retirement Board Has $2.88 Million Stake in Air Products and Chemicals, Inc. (APD)

New Mexico Educational Retirement Board lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,250 shares of the basic materials company’s stock after selling 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Air Products and Chemicals were worth $2,879,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of APD. iAB Financial Bank acquired a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $100,000. Patten Group Inc. raised its stake in shares of Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after buying an additional 28 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Air Products and Chemicals during the first quarter valued at approximately $109,000. Guardian Life Insurance Co. of America raised its stake in shares of Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after buying an additional 6 shares in the last quarter. Finally, Webster Bank N. A. raised its stake in shares of Air Products and Chemicals by 68.2% in the first quarter. Webster Bank N. A. now owns 851 shares of the basic materials company’s stock valued at $115,000 after buying an additional 345 shares in the last quarter. Institutional investors own 88.75% of the company’s stock.

Air Products and Chemicals, Inc. (NYSE:APD) opened at 145.54 on Friday. The company has a 50 day moving average price of $145.05 and a 200 day moving average price of $141.90. The firm has a market capitalization of $31.72 billion, a P/E ratio of 10.93 and a beta of 1.25. Air Products and Chemicals, Inc. has a 52-week low of $129.00 and a 52-week high of $150.45.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company earned $1.92 earnings per share. Air Products and Chemicals’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post $6.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be given a $0.95 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $3.80 dividend on an annualized basis and a yield of 2.61%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.

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APD has been the subject of several analyst reports. Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $148.00 to $160.00 in a report on Monday, May 1st. Credit Suisse Group reiterated an “outperform” rating and set a $158.00 price objective (up previously from $153.00) on shares of Air Products and Chemicals in a report on Wednesday, August 2nd. Zacks Investment Research lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Vertical Research upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating and set a $146.00 price objective for the company in a report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Air Products and Chemicals currently has an average rating of “Hold” and a consensus price target of $152.77.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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