Buffington Mohr McNeal Decreases Position in Air Products and Chemicals, Inc. (NYSE:APD)

Buffington Mohr McNeal cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 19.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,148 shares of the basic materials company's stock after selling 5,876 shares during the period. Air Products and Chemicals accounts for about 1.4% of Buffington Mohr McNeal's portfolio, making the stock its 27th biggest position. Buffington Mohr McNeal's holdings in Air Products and Chemicals were worth $7,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APD. Mantle Ridge LP purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $1,191,344,000. Norges Bank purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $919,721,000. Bank of America Corp DE raised its position in Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares during the period. Raymond James Financial Inc. purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $885,371,000. Finally, Capital International Investors purchased a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $436,636,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 0.5%

NYSE:APD traded up $1.54 during midday trading on Thursday, hitting $291.84. The stock had a trading volume of 682,381 shares, compared to its average volume of 1,372,195. The stock has a 50-day moving average of $275.87 and a 200 day moving average of $290.53. 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 company has a market capitalization of $64.95 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 5.57 and a beta of 0.85. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.85 EPS. As a group, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current 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 issued a dividend of $1.79 per share. The ex-dividend date is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.45%. Air Products and Chemicals's dividend payout ratio is currently 104.07%.

Analyst Ratings Changes

A number of brokerages have issued reports on APD. UBS Group decreased their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Barclays cut their target price on 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. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 target price on the stock. Morgan Stanley assumed coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price on the stock. Finally, Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and cut their target price for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.