Retirement Systems of Alabama Sells 149 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Retirement Systems of Alabama cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,890 shares of the basic materials company’s stock after selling 149 shares during the quarter. Retirement Systems of Alabama’s holdings in Air Products and Chemicals were worth $14,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APD. Synovus Financial Corp raised its holdings in Air Products and Chemicals by 85.1% in the 3rd quarter. Synovus Financial Corp now owns 6,514 shares of the basic materials company’s stock valued at $1,939,000 after acquiring an additional 2,995 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Air Products and Chemicals by 286.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,299 shares of the basic materials company’s stock worth $6,342,000 after purchasing an additional 15,791 shares during the last quarter. World Investment Advisors LLC boosted its stake in Air Products and Chemicals by 1,205.1% in the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after purchasing an additional 35,479 shares during the period. Anchor Investment Management LLC grew its holdings in Air Products and Chemicals by 35.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,930 shares of the basic materials company’s stock valued at $872,000 after buying an additional 768 shares in the last quarter. Finally, Tudor Financial Inc. bought a new position in Air Products and Chemicals during the 3rd quarter worth $1,654,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APD. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their price target for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a research note on Friday, October 25th. Barclays raised their price objective on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Performance

NYSE APD opened at $312.30 on Monday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $337.00. The stock has a market cap of $69.45 billion, a PE ratio of 18.18, a PEG ratio of 3.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm’s fifty day moving average price is $320.55 and its two-hundred day moving average price is $290.13.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.27%. Air Products and Chemicals’s payout ratio is presently 41.21%.

About Air Products and Chemicals

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.