State of Michigan Retirement System Has $15.51 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

State of Michigan Retirement System increased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,021 shares of the basic materials company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Air Products and Chemicals were worth $15,510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. lifted its holdings in shares of Air Products and Chemicals by 1.8% during the 1st quarter. MV Capital Management Inc. now owns 11,079 shares of the basic materials company’s stock valued at $2,684,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Air Products and Chemicals by 6.2% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,013 shares of the basic materials company’s stock valued at $245,000 after acquiring an additional 59 shares during the period. Applied Capital LLC FL lifted its position in shares of Air Products and Chemicals by 76.7% during the 1st quarter. Applied Capital LLC FL now owns 3,927 shares of the basic materials company’s stock valued at $951,000 after acquiring an additional 1,704 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after buying an additional 135 shares during the last quarter. Finally, Claro Advisors LLC lifted its position in shares of Air Products and Chemicals by 14.0% during the 1st quarter. Claro Advisors LLC now owns 3,267 shares of the basic materials company’s stock worth $791,000 after buying an additional 401 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Mizuho dropped their target price on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley increased their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft increased their target price on Air Products and Chemicals from $260.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, June 10th. TD Cowen increased their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays increased their price target on Air Products and Chemicals from $245.00 to $290.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $287.29.

Air Products and Chemicals Stock Up 1.4 %

APD stock opened at $250.92 on Wednesday. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $259.98 and its 200-day moving average is $251.54. The firm has a market capitalization of $55.78 billion, a PE ratio of 22.65, a P/E/G ratio of 2.80 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company posted $2.74 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.3 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.82%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

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.