State Farm Trims Air Products & Chemicals Stake to 3.18%

Ticker: APD · Form: SC 13G/A · Filed: 2024-02-12T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, stake-change, SC-13G/A

TL;DR

**State Farm just cut its stake in Air Products & Chemicals to 3.18%.**

AI Summary

State Farm Mutual Automobile Insurance Company and its affiliates, including State Farm Life Insurance Company, reported an updated beneficial ownership of 7,074,497 shares of Air Products & Chemicals Inc. common stock as of December 31, 2023. This represents 3.18% of the company's outstanding shares, a slight decrease from their previous filing. This matters to investors because State Farm, a major institutional investor, is adjusting its stake, which could signal a change in its long-term outlook for Air Products & Chemicals.

Why It Matters

This filing shows a significant institutional investor, State Farm, has slightly reduced its ownership in Air Products & Chemicals, which could be interpreted as a minor shift in their investment strategy or outlook for the company.

Risk Assessment

Risk Level: low — A minor adjustment by an institutional investor typically poses a low risk to the average shareholder, as it doesn't indicate a major change in company fundamentals.

Analyst Insight

Investors should note that a major institutional holder has slightly reduced its stake, but this is a minor adjustment and not a divestment. It might warrant a closer look at Air Products & Chemicals' recent performance or upcoming earnings for any underlying reasons for the adjustment.

Key Numbers

7,074,497 — Aggregate Shares Owned (Total shares of Air Products & Chemicals Inc. beneficially owned by State Farm as of December 31, 2023.)
3.18% — Percent of Class (The percentage of Air Products & Chemicals Inc. common stock owned by State Farm, indicating their current stake.)
7,018,600 — Sole Voting Power Shares (Shares over which State Farm Mutual Automobile Insurance Company has sole voting and dispositive power.)
55,897 — Shared Voting Power Shares (Shares over which State Farm Mutual Automobile Insurance Company has shared voting and dispositive power.)

Key Players & Entities

State Farm Mutual Automobile Insurance Company (company) — the primary reporting person and institutional investor
Air Products & Chemicals, Inc. (company) — the subject company whose shares are being reported
State Farm Life Insurance Company (company) — an affiliate of the primary reporting person
7,074,497 (dollar_amount) — aggregate shares beneficially owned by State Farm
3.18% (dollar_amount) — percentage of class represented by State Farm's ownership
December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

State Farm will continue to hold a significant, but potentially slightly reduced, stake in Air Products & Chemicals Inc. over the next year. (State Farm Mutual Automobile Insurance Company) — medium confidence, target: December 31, 2024

FAQ

Who is the primary reporting person in this SC 13G/A filing?

The primary reporting person is State Farm Mutual Automobile Insurance Company, as stated in Item 1 of Schedule 13G, Page 2.

What is the total aggregate amount of Air Products & Chemicals Inc. shares beneficially owned by the reporting persons?

The aggregate amount beneficially owned by each reporting person is 7,074,497 shares, as reported in Row 9 of Schedule 13G, Page 2.

What percentage of the class of securities does this beneficial ownership represent?

This beneficial ownership represents 3.18% of the class, as indicated in Row 11 of Schedule 13G, Page 2.

What was the date of the event that required this filing?

The date of the event which required the filing of this statement was December 31, 2023, as stated on the cover page of the Schedule 13G.

Which rule under the Securities Exchange Act of 1934 is this Schedule 13G filed under?

This Schedule 13G is filed under Rule 13d-1(b), as indicated by the checked box on the cover page of the Schedule 13G.

From the Filing

0000315032-24-000002.txt : 20240212 0000315032-24-000002.hdr.sgml : 20240212 20240212143351 ACCESSION NUMBER: 0000315032-24-000002 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Air Products & Chemicals, Inc. CENTRAL INDEX KEY: 0000002969 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 231274455 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-33211 FILM NUMBER: 24619207 BUSINESS ADDRESS: STREET 1: 1940 AIR PRODUCTS BLVD. CITY: ALLENTOWN STATE: PA ZIP: 18106-5500 BUSINESS PHONE: 6104814911 MAIL ADDRESS: STREET 1: 1940 AIR PRODUCTS BLVD. CITY: ALLENTOWN STATE: PA ZIP: 18106-5500 FORMER COMPANY: FORMER CONFORMED NAME: AIR PRODUCTS & CHEMICALS, INC. DATE OF NAME CHANGE: 20220408 FORMER COMPANY: FORMER CONFORMED NAME: AIR PRODUCTS & CHEMICALS INC /DE/ DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE FARM MUTUAL AUTOMOBILE INSURANCE CO CENTRAL INDEX KEY: 0000315032 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 370533100 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: ONE STATE FARM PLAZA CITY: BLOOMINGTON STATE: IL ZIP: 61710 BUSINESS PHONE: 309-766-8411 MAIL ADDRESS: STREET 1: ONE STATE FARM PLAZA CITY: BLOOMINGTON STATE: IL ZIP: 61710 SC 13G/A 1 statefarm_apd.txt Schedule 13G Page 1 of 11 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Under the Securities Exchange Act of 1934 (Amendment No. 34 ) AIR PRODUCTS & CHEMICALS INC (Name of Issuer) Common Stock (Title of Class of Securities) 009158106 (CUSIP NUMBER) December 31, 2023 (Date of Event which Requires Filing of Statement) Check the appropriate box to designate the Rule pursuant to which this Schedule is filed: [x] Rule 13d - 1(b) Rule 13d - 1(c) Rule 13d - 1(d) Schedule 13G Page 2 of 11 Pages CUSIP No. 009158106 1. Name of Reporting Person and I.R.S. Identification No. State Farm Mutual Automobile Insurance Company 37-0533100 2. Check the Appropriate Box if a Member of a Group (a) _____ (b) __X__ 3. SEC Use Only 4. Citizenship or Place of Organization Illinois Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 7,018,600 6. Shared Voting Power 55,897 7. Sole Dispositive Power 7,018,600 8. Shared Dispositive Power 55,897 9. Aggregate Amount Beneficially Owned by Each Reporting Person 7,074,497 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares NOT APPLICABLE 11. Percent of Class Represented by Amount in Row 9 3.18 % 12. Type of Reporting Person IC Schedule 13G Page 3 of 11 Pages CUSIP No. 009158106 1. Name of Reporting Person and I.R.S. Identification No. State Farm Life Insurance Company 37-0533090 2. Check the Appropriate Box if a Member of a Group (a) _____ (b) __X__ 3. SEC Use Only 4. Citizenship or Place of Organization Illinois Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 236,500 6. Shared Voting Power 11,616 7. Sole Dispositive Power 236,500 8. Shared Dispositive Power 11,616 9. Aggregate Amount Beneficially Owned by Each Reporting Person 248,116 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares NOT APPLICABLE 11. Percent of Class Represented by Amount in Row 9 0.11 % 12. Type of Reporting Person IC Schedule 13G Page 4 of 11 Pages CUSIP No. 009158106 1. Name of Reporting Person and I.R.S. Identification No. State Farm Life & Accident Assurance Co. 37-0805091 2. Check the Appropriate Box if a Member of a Group (a) _____ (b) __X__ 3. SEC Use Only 4. Citizenship or Place of Organization Illinois Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shar