Cullen Investment Group LTD. Sells 13,883 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cullen Investment Group LTD. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 80.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,418 shares of the basic materials company's stock after selling 13,883 shares during the period. Cullen Investment Group LTD.'s holdings in Air Products and Chemicals were worth $1,008,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of APD. Mantle Ridge LP acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $1,191,344,000. Norges Bank acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $919,721,000. Bank of America Corp DE raised its holdings in shares of Air Products and Chemicals by 129.4% in 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 last quarter. Raymond James Financial Inc. acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $885,371,000. Finally, Capital International Investors acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $436,636,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APD shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Wall Street Zen downgraded shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Citigroup lowered their price objective on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. UBS Group decreased their target price on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley started coverage on shares of Air Products and Chemicals in a research note on Thursday. They issued an "equal weight" rating and a $290.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $331.00.

Insider Activity

In other news, VP Walter L. Nelson sold 589 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares of the company's stock, valued at approximately $221,811.50. The trade was a 45.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Stock Performance

APD stock traded up $5.82 during midday trading on Friday, reaching $278.99. 2,872,928 shares of the company were exchanged, compared to its average volume of 1,448,278. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The business has a 50-day moving average price of $271.94 and a two-hundred day moving average price of $297.44. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $2.85 earnings per share. The company'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 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.57%. Air Products and Chemicals's dividend payout ratio (DPR) is 104.07%.

Air Products and Chemicals 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.