Kentucky Retirement Systems Cuts Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Kentucky Retirement Systems reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 15,157 shares of the basic materials company’s stock after selling 120 shares during the period. Kentucky Retirement Systems’ holdings in Air Products and Chemicals were worth $4,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Generali Investments Management Co LLC purchased a new position in Air Products and Chemicals in the fourth quarter worth $26,000. WR Wealth Planners LLC grew its holdings in Air Products and Chemicals by 40.3% in 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 last quarter. Lee Danner & Bass Inc. purchased a new position in Air Products and Chemicals in the fourth quarter worth $44,000. Sunbelt Securities Inc. grew its holdings in Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 142 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Air Products and Chemicals in the fourth quarter worth $50,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Barclays dropped their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company dropped 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. Bank of America lowered shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Finally, Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.41.

Air Products and Chemicals Trading Down 1.6%

NYSE APD opened at $270.98 on Monday. The company has a market capitalization of $60.30 billion, a PE ratio of 39.39, a P/E/G ratio of 5.19 and a beta of 0.86. The company has a fifty day moving average of $272.94 and a 200 day moving average of $291.99. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.00 and a quick ratio of 0.85.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company posted $2.85 EPS. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.64%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 104.07%.

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.