Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Bank of New York Mellon Corp

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

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after buying an additional 412 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Air Products and Chemicals by 10.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,150 shares of the basic materials company's stock valued at $334,000 after buying an additional 111 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $116,000. Proficio Capital Partners LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $246,000. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of Air Products and Chemicals by 16.6% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,831 shares of the basic materials company's stock valued at $821,000 after buying an additional 404 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Down 0.6%

Shares of Air Products and Chemicals stock traded down $1.88 during trading hours on Monday, hitting $289.96. The company's stock had a trading volume of 199,256 shares, compared to its average volume of 1,390,601. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The firm has a fifty day moving average of $276.82 and a 200-day moving average of $290.28. The stock has a market cap of $64.53 billion, a price-to-earnings ratio of 42.12, a P/E/G ratio of 5.60 and a beta of 0.85. 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 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). 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 during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $2.85 EPS. The business's revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.47%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's payout ratio is 104.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective for the company. Citigroup boosted their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wells Fargo & Company dropped their price target on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Barclays dropped their price target 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, Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of "Moderate Buy" and an average target price of $330.94.

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.