Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,592 shares of the basic materials company's stock after selling 1,410 shares during the period. Concurrent Investment Advisors LLC's holdings in Air Products and Chemicals were worth $4,304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of APD. Vanguard Group Inc. grew its stake in Air Products and Chemicals by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock valued at $6,231,560,000 after purchasing an additional 207,404 shares during the period. Dodge & Cox boosted its stake in Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock worth $1,932,581,000 after purchasing an additional 64,960 shares during the period. Bank of America Corp DE boosted its stake in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after purchasing an additional 3,062,157 shares during the period. Geode Capital Management LLC boosted its stake in Air Products and Chemicals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company's stock worth $1,430,354,000 after purchasing an additional 57,314 shares during the period. Finally, Mantle Ridge LP purchased a new stake in shares of Air Products and Chemicals in the 4th quarter valued at about $1,191,344,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APD has been the topic of a number of research reports. Barclays decreased their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. UBS Group dropped their price target 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. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target 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 price objective for the company. Finally, Bank of America cut Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $330.00 to $282.00 in a research note on Tuesday, April 15th. Two research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $330.94.

Air Products and Chemicals Stock Down 0.9%

NYSE:APD traded down $2.57 during midday trading on Monday, reaching $289.27. The company had a trading volume of 979,730 shares, compared to its average volume of 1,370,588. The firm has a market capitalization of $64.37 billion, a price-to-earnings ratio of 42.05, a PEG ratio of 5.60 and a beta of 0.85. The stock's fifty day simple moving average is $276.82 and its 200-day simple moving average is $290.28. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly 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). 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 quarter in the prior year, the business earned $2.85 earnings per share. The firm's quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate 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 firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Tuesday, July 1st. Air Products and Chemicals's dividend payout ratio is presently 104.07%.

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.