Retirement Systems of Alabama Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Retirement Systems of Alabama cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 74.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,959 shares of the basic materials company’s stock after selling 141,571 shares during the quarter. Retirement Systems of Alabama’s holdings in Air Products and Chemicals were worth $13,405,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in APD. Vicus Capital purchased a new position in Air Products and Chemicals during the third quarter worth about $222,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Air Products and Chemicals by 2.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,884 shares of the basic materials company’s stock worth $9,886,000 after purchasing an additional 939 shares during the period. FinTrust Capital Advisors LLC raised its holdings in shares of Air Products and Chemicals by 40.4% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 132 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 38 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Air Products and Chemicals by 4.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 30,988 shares of the basic materials company’s stock worth $8,782,000 after purchasing an additional 1,348 shares during the period. Finally, Moody Lynn & Lieberson LLC raised its holdings in shares of Air Products and Chemicals by 9.6% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 801 shares of the basic materials company’s stock worth $227,000 after purchasing an additional 70 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $237.50 on Thursday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The business has a 50 day moving average price of $237.72 and a two-hundred day moving average price of $254.55. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. The firm has a market cap of $52.80 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. 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 firm earned $2.74 EPS. Air Products and Chemicals’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen raised their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. Morgan Stanley lowered their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. UBS Group lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. Finally, Barclays lowered their target price on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $277.43.

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.