Public Employees Retirement System of Ohio Purchases Shares of 94,319 Air Products and Chemicals, Inc. (NYSE:APD)

Public Employees Retirement System of Ohio purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 94,319 shares of the basic materials company’s stock, valued at approximately $27,356,000.

A number of other large investors also recently modified their holdings of the business. Generali Investments Management Co LLC acquired a new position in Air Products and Chemicals during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth $30,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 43 shares during the last quarter. Financial Life Planners acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $31,000. Finally, WR Wealth Planners LLC grew its holdings in Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now directly owns 719 shares in the company, valued at $221,811.50. This represents a 45.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Stock Up 0.3%

Shares of APD opened at $270.03 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The firm’s 50 day moving average is $273.90 and its 200-day moving average is $298.85. The stock has a market capitalization of $60.09 billion, a PE ratio of 15.68, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.85 EPS. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals’s payout ratio is currently 104.07%.

Wall Street Analysts Forecast Growth

APD has been the subject of a number of recent analyst reports. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Wall Street Zen downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Wells Fargo & Company decreased their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $330.38.

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.