Cypress Capital Group Has $1.57 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Cypress Capital Group cut its stake in Air Products and Chemicals by 19.0%, now holding 5,334 shares worth approximately $1,573,000.
• The company reported $3.09 EPS for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 1.2%.
• Air Products and Chemicals announced a quarterly dividend of $1.79, with a yield of 2.5%, despite a dividend payout ratio of 103.02%.

Cypress Capital Group lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 19.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,334 shares of the basic materials company's stock after selling 1,251 shares during the period. Cypress Capital Group's holdings in Air Products and Chemicals were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP increased its holdings in shares of Air Products and Chemicals by 2.3% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company's stock worth $447,000 after acquiring an additional 34 shares during the period. West Branch Capital LLC boosted its position in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock valued at $124,000 after purchasing an additional 39 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Air Products and Chemicals by 2.6% in the first quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock worth $454,000 after buying an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Air Products and Chemicals by 1.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after purchasing an additional 40 shares during the period. Finally, Stableford Capital II LLC boosted its holdings in shares of Air Products and Chemicals by 1.3% during the first quarter. Stableford Capital II LLC now owns 3,222 shares of the basic materials company's stock worth $950,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity

In related news, VP Victoria Brifo sold 1,359 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the transaction, the vice president directly owned 8,686 shares in the company, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Down 0.4%

Shares of APD traded down $1.06 on Friday, hitting $291.12. The company's stock had a trading volume of 335,380 shares, compared to its average volume of 1,313,751. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The firm's fifty day moving average price is $287.41 and its 200-day moving average price is $288.65. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The firm has a market capitalization of $64.79 billion, a price-to-earnings ratio of 41.89, a P/E/G ratio of 6.57 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the firm earned $3.20 EPS. Air Products and Chemicals's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. Air Products and Chemicals's payout ratio is currently 103.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on APD shares. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group boosted their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Citigroup boosted their price objective on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Barclays dropped their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Mizuho boosted their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $335.07.

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.