Air Products and Chemicals, Inc. (APD) is State Farm Mutual Automobile Insurance Co.’s 9th Largest Position

State Farm Mutual Automobile Insurance Co. maintained its stake in Air Products and Chemicals, Inc. (NYSE:APD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,393,100 shares of the basic materials company’s stock at the end of the first quarter. Air Products and Chemicals makes up approximately 2.9% of State Farm Mutual Automobile Insurance Co.’s holdings, making the stock its 9th largest position. State Farm Mutual Automobile Insurance Co.’s holdings in Air Products and Chemicals were worth $2,082,532,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in APD. Wellington Management Group LLP increased its stake in Air Products and Chemicals by 5.9% in the first quarter. Wellington Management Group LLP now owns 10,074 shares of the basic materials company’s stock valued at $1,363,000 after buying an additional 563 shares during the last quarter. Principal Financial Group Inc. increased its stake in Air Products and Chemicals by 3.7% in the first quarter. Principal Financial Group Inc. now owns 3,121,508 shares of the basic materials company’s stock valued at $422,309,000 after buying an additional 110,064 shares during the last quarter. TLP Group LLC increased its stake in Air Products and Chemicals by 109.0% in the first quarter. TLP Group LLC now owns 2,700 shares of the basic materials company’s stock valued at $365,000 after buying an additional 1,408 shares during the last quarter. United Services Automobile Association increased its stake in Air Products and Chemicals by 6.9% in the first quarter. United Services Automobile Association now owns 336,313 shares of the basic materials company’s stock valued at $45,500,000 after buying an additional 21,813 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Air Products and Chemicals by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,873 shares of the basic materials company’s stock valued at $389,000 after buying an additional 198 shares during the last quarter. Institutional investors own 89.27% of the company’s stock.

Air Products and Chemicals, Inc. (NYSE APD) traded down 0.17% on Thursday, hitting $143.65. The stock had a trading volume of 1,243,171 shares. The stock has a market cap of $31.28 billion, a P/E ratio of 9.93 and a beta of 1.26. The company’s 50 day moving average is $144.49 and its 200-day moving average is $141.85. Air Products and Chemicals, Inc. has a 12 month low of $129.00 and a 12 month high of $150.45.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.05. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.84 billion. Air Products and Chemicals had a return on equity of 19.26% and a net margin of 36.19%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 earnings per share. Analysts forecast that Air Products and Chemicals, Inc. will post $6.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is 26.28%.

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Several equities research analysts recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 14th. BidaskClub downgraded Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Finally, Deutsche Bank AG upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $160.00 in a research note on Monday, May 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $152.85.

About Air Products and Chemicals

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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