Public Employees Retirement System of Ohio Sells 8,329 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Public Employees Retirement System of Ohio lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,328 shares of the basic materials company’s stock after selling 8,329 shares during the period. Public Employees Retirement System of Ohio’s holdings in Air Products and Chemicals were worth $25,276,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Roble Belko & Company Inc acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Sachetta LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Security National Bank acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $27,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at approximately $28,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD traded up $4.86 during trading hours on Monday, reaching $265.84. 1,275,151 shares of the company were exchanged, compared to its average volume of 1,757,720. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The business’s 50 day simple moving average is $265.00 and its 200-day simple moving average is $249.71. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $59.10 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.88 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the business earned $2.74 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.26 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on APD shares. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Barclays upped their price objective on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. UBS Group upped their price objective on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. 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. Finally, Citigroup boosted their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $289.29.

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.