Kentucky Retirement Systems Sells 892 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Kentucky Retirement Systems decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,882 shares of the basic materials company’s stock after selling 892 shares during the period. Kentucky Retirement Systems’ holdings in Air Products and Chemicals were worth $4,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions 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 $27,000. Roble Belko & Company Inc bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $27,000. Sachetta LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $27,000. Security National Bank bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Finally, Thompson Investment Management Inc. bought a new stake in shares of Air Products and Chemicals in the 1st quarter valued at $27,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.9 %

Shares of Air Products and Chemicals stock traded up $2.34 during trading hours on Friday, reaching $260.98. 1,042,927 shares of the company’s stock were exchanged, compared to its average volume of 1,659,557. The company has a 50 day moving average of $265.00 and a two-hundred day moving average of $249.83. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The stock has a market cap of $58.02 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.88 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.74 EPS. On average, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.26 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.71%. Air Products and Chemicals’s payout ratio is 63.90%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on APD shares. Mizuho lowered their price objective on shares of Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Citigroup upped their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. UBS Group upped their price objective on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their target price for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $289.29.

Air Products and Chemicals Company 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.