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 fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,349 shares of the basic materials company’s stock after selling 485 shares during the quarter. 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.

A number of other institutional investors and hedge funds also recently modified their holdings of APD. SG Americas Securities LLC increased its stake in Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after purchasing an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Air Products and Chemicals by 59.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after buying an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $7,269,000. Forsta AP Fonden lifted its holdings in Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock valued at $3,074,000 after acquiring an additional 4,916 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Price Performance

NYSE:APD opened at $328.30 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $310.40 and a 200 day simple moving average of $300.66. Air Products and Chemicals, Inc. has a 1-year low of $213.07 and a 1-year high of $341.14. The stock has a market capitalization of $73.01 billion, a PE ratio of 19.11, a P/E/G ratio of 3.55 and a beta of 0.85.

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

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.18%. 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%.

Analyst Ratings Changes

A number of research firms have recently commented on APD. Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. UBS Group lifted their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research report on Friday, October 25th. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a report on Friday, January 31st. Finally, Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.