Buckhead Capital Management LLC Lowers Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Buckhead Capital Management LLC trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,005 shares of the basic materials company's stock after selling 2,155 shares during the quarter. Air Products and Chemicals comprises 1.5% of Buckhead Capital Management LLC's portfolio, making the stock its 26th largest position. Buckhead Capital Management LLC's holdings in Air Products and Chemicals were worth $4,720,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of APD. Parvin Asset Management LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $715,000. Ritholtz Wealth Management boosted its stake in Air Products and Chemicals by 20.9% in the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock worth $473,000 after purchasing an additional 277 shares in the last quarter. Mantle Ridge LP bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $1,191,344,000. Proficio Capital Partners LLC bought a new stake in Air Products and Chemicals in the fourth quarter valued at about $246,000. Finally, Allstate Corp bought a new stake in shares of Air Products and Chemicals in the fourth quarter worth about $1,917,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of APD stock traded down $0.08 during midday trading on Monday, hitting $295.23. 344,670 shares of the company were exchanged, compared to its average volume of 1,363,343. 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 debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The firm's 50 day moving average price is $281.02 and its two-hundred day moving average price is $290.26. The firm has a market capitalization of $65.70 billion, a P/E ratio of 42.89, a PEG ratio of 5.66 and a beta of 0.85.

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 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $2.85 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 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 2.43%. Air Products and Chemicals's payout ratio is 104.07%.

Wall Street Analyst Weigh In

APD has been the topic of a number of research reports. Mizuho boosted their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Barclays cut their price objective on shares of 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. UBS Group boosted their target price on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Morgan Stanley initiated 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus target price of $331.53.

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.