Bank of New York Mellon Corp Sells 63,766 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Bank of New York Mellon Corp decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,024,683 shares of the basic materials company's stock after selling 63,766 shares during the period. Bank of New York Mellon Corp owned approximately 0.91% of Air Products and Chemicals worth $597,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals in the first quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $26,000. Citizens National Bank Trust Department grew its holdings in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Air Products and Chemicals in the fourth quarter worth $44,000. Finally, Sunbelt Securities Inc. raised its stake in Air Products and Chemicals by 525.9% in 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 in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

APD has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. UBS Group cut their target price on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada began coverage on Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. 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 research report on Friday, May 2nd. Finally, Citigroup increased their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $330.94.

Air Products and Chemicals Stock Down 0.9%

APD stock traded down $2.57 during midday trading on Monday, reaching $289.27. 979,730 shares of the company's stock traded hands, compared to its average volume of 1,370,588. The company has a quick ratio of 0.85, a current ratio of 1.00 and a debt-to-equity ratio of 0.85. The firm's fifty day moving average price is $276.82 and its 200-day moving average price is $290.28. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a market cap of $64.37 billion, a price-to-earnings ratio of 42.05, a P/E/G ratio of 5.60 and a beta of 0.85.

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

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.48%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Air Products and Chemicals 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.