Air Products & Chemicals, Inc. (APD) Stake Lowered by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 1.6% in the first quarter, Holdings Channel reports. The fund owned 18,350 shares of the basic materials company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Air Products & Chemicals were worth $3,504,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in APD. Old North State Trust LLC increased its stake in Air Products & Chemicals by 26.0% during the 1st quarter. Old North State Trust LLC now owns 276 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Wambolt & Associates LLC increased its stake in Air Products & Chemicals by 2.0% during the 1st quarter. Wambolt & Associates LLC now owns 3,085 shares of the basic materials company’s stock worth $593,000 after purchasing an additional 61 shares in the last quarter. Covington Capital Management increased its stake in Air Products & Chemicals by 0.3% during the 4th quarter. Covington Capital Management now owns 20,486 shares of the basic materials company’s stock worth $3,279,000 after purchasing an additional 62 shares in the last quarter. Leavell Investment Management Inc. increased its stake in Air Products & Chemicals by 1.1% during the 4th quarter. Leavell Investment Management Inc. now owns 5,785 shares of the basic materials company’s stock worth $932,000 after purchasing an additional 64 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Air Products & Chemicals by 9.9% during the 4th quarter. Cornerstone Advisors Inc. now owns 752 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 68 shares in the last quarter. 87.52% of the stock is owned by institutional investors.

A number of analysts recently issued reports on the company. Zacks Investment Research cut Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Bank of America cut Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 target price for the company. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Credit Suisse Group increased their target price on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, KeyCorp increased their target price on Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Air Products & Chemicals has a consensus rating of “Buy” and a consensus price target of $194.20.

Shares of APD opened at $197.10 on Wednesday. The company has a market cap of $42.59 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. Air Products & Chemicals, Inc. has a twelve month low of $148.44 and a twelve month high of $197.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 2.03.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Friday, January 25th. The basic materials company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.01). The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. Air Products & Chemicals’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 earnings per share. As a group, sell-side analysts expect that Air Products & Chemicals, Inc. will post 8.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 1st will be paid a dividend of $1.16 per share. This is a boost from Air Products & Chemicals’s previous quarterly dividend of $1.10. This represents a $4.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, March 29th. Air Products & Chemicals’s dividend payout ratio (DPR) is currently 62.28%.

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Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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