Coho Partners Ltd. Reduces Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Coho Partners Ltd. decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 30.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,506 shares of the basic materials company's stock after selling 57,850 shares during the quarter. Air Products and Chemicals accounts for approximately 2.3% of Coho Partners Ltd.'s investment portfolio, making the stock its 26th largest holding. Coho Partners Ltd. owned 0.06% of Air Products and Chemicals worth $38,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Investments Management Co LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $26,000. WR Wealth Planners LLC lifted its holdings in shares of Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after purchasing an additional 31 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $44,000. Sunbelt Securities Inc. lifted its holdings in shares of Air Products and Chemicals by 525.9% during the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after purchasing an additional 142 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 1.6%

Shares of APD opened at $270.98 on Friday. 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, Inc. has a one year low of $243.69 and a one year high of $341.14. The stock has a market capitalization of $60.30 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 5.19 and a beta of 0.86. The stock has a 50 day moving average price of $272.94 and a 200 day moving average price of $292.20.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued 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 return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $2.85 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

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 $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, July 1st. Air Products and Chemicals's payout ratio is currently 104.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APD shares. Barclays decreased their price target 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. Bank of America downgraded Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $330.00 to $282.00 in a report on Tuesday, April 15th. Royal Bank Of Canada started coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Morgan Stanley started coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $332.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.