State Farm Mutual Automobile Insurance Co. Has $3.55 Billion Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

State Farm Mutual Automobile Insurance Co. decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,237,335 shares of the basic materials company’s stock after selling 64,655 shares during the quarter. Air Products and Chemicals accounts for approximately 3.2% of State Farm Mutual Automobile Insurance Co.’s investment portfolio, making the stock its 7th largest position. State Farm Mutual Automobile Insurance Co. owned 5.50% of Air Products and Chemicals worth $3,549,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Air Products and Chemicals in the 3rd quarter worth about $25,000. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. raised its holdings in 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 last quarter. Sierra Ocean LLC bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $30,000. Finally, Financial Life Planners acquired a new position in Air Products and Chemicals in the 4th quarter valued at approximately $31,000. Institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Francesco Maione sold 2,016 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the transaction, the insider now owns 3,834 shares in the company, valued at approximately $1,173,204. This represents a 34.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

APD stock opened at $292.34 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The business has a 50-day simple moving average of $311.68 and a two-hundred day simple moving average of $308.95. The company has a market capitalization of $65.04 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52-week low of $227.53 and a 52-week high of $341.14.

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

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 annualized dividend and a yield of 2.45%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.58%.

Analysts Set New Price Targets

A number of research firms recently weighed in on APD. Sanford C. Bernstein upgraded 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.47.

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.