Cullen Frost Bankers Inc. Sells 1,481 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cullen Frost Bankers Inc. trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,828 shares of the basic materials company's stock after selling 1,481 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Air Products and Chemicals were worth $9,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Air Products and Chemicals during the first quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $26,000. Citizens National Bank Trust Department raised its position in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Air Products and Chemicals during the fourth quarter valued at approximately $44,000. Finally, Sunbelt Securities Inc. grew its holdings in Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

APD stock traded up $1.65 during midday trading on Friday, hitting $295.23. The stock had a trading volume of 2,097,647 shares, compared to its average volume of 1,362,278. The firm has a market capitalization of $65.70 billion, a price-to-earnings ratio of 42.91, a P/E/G ratio of 5.54 and a beta of 0.85. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The stock has a 50-day simple moving average of $280.54 and a 200 day simple moving average of $290.18. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business earned $2.85 earnings per share. As a group, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.43%. Air Products and Chemicals's dividend payout ratio is presently 104.07%.

Wall Street Analyst Weigh In

Several brokerages have commented on APD. Morgan Stanley began coverage on Air Products and Chemicals in a report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Mizuho increased their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday. UBS Group raised their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Barclays lowered their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $331.53.

Air Products and Chemicals Company 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.