Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 75.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 742 shares of the basic materials company's stock after selling 2,223 shares during the period. Canandaigua National Trust Co of Florida's holdings in Air Products and Chemicals were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $1,191,344,000. Norges Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $919,721,000. Bank of America Corp DE boosted its position in shares of Air Products and Chemicals by 129.4% in the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after acquiring an additional 3,062,157 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $885,371,000. Finally, Capital International Investors acquired a new position in Air Products and Chemicals during the fourth quarter worth approximately $436,636,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

APD opened at $282.68 on Monday. The company has a 50-day moving average of $274.48 and a 200-day moving average of $290.78. The company has a market capitalization of $62.91 billion, a P/E ratio of 41.09, a PEG ratio of 5.42 and a beta of 0.86. 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 quick ratio of 0.85 and a current ratio of 1.00.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced 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). Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the company earned $2.85 EPS. Air Products and Chemicals's quarterly revenue was down .5% on a year-over-year basis. Equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio is presently 104.07%.

Wall Street Analysts Forecast Growth

APD has been the topic of several research reports. Barclays cut their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Citigroup cut their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Morgan Stanley started coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target on the stock. Finally, Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus target price of $332.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.