Teacher Retirement System of Texas Acquires 11,624 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Teacher Retirement System of Texas boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 780.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,113 shares of the basic materials company’s stock after acquiring an additional 11,624 shares during the quarter. Teacher Retirement System of Texas’ holdings in Air Products and Chemicals were worth $3,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APD. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals in the third quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at $26,000. Raleigh Capital Management Inc. increased its stake in shares of Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after buying an additional 43 shares during the period. Sierra Ocean LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth $30,000. Finally, Financial Life Planners acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $31,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on APD. BNP Paribas upgraded Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued 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. UBS Group reduced their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research report on Monday, January 27th. Finally, Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $342.65.

Insider Transactions at Air Products and Chemicals

In other news, insider Francesco Maione sold 2,016 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $306.00, for a total transaction of $616,896.00. Following the sale, the insider now directly owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. This represents a 34.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This trade represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,500 shares of company stock valued at $4,842,604. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $294.06 on Tuesday. The firm has a market cap of $65.42 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The business’s 50 day moving average is $313.04 and its 200-day moving average is $308.84. 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 1-year low of $227.53 and a 1-year high of $341.14.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

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.