Dearborn Partners LLC Trims Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Dearborn Partners LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,507 shares of the basic materials company's stock after selling 4,370 shares during the period. Dearborn Partners LLC's holdings in Air Products and Chemicals were worth $7,228,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of APD. Wayfinding Financial LLC acquired a new position in Air Products and Chemicals during the first quarter worth approximately $25,000. Citizens National Bank Trust Department boosted its holdings in shares of Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. boosted 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 acquiring an additional 142 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $50,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Air Products and Chemicals during the fourth quarter worth approximately $51,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Down 2.1%

NYSE:APD traded down $6.00 on Friday, hitting $281.88. The stock had a trading volume of 1,072,180 shares, compared to its average volume of 934,039. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.85 and a current ratio of 1.29. The stock has a market cap of $62.73 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 5.53 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The firm's fifty day simple moving average is $285.05 and its two-hundred day simple moving average is $290.47.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $3.20 EPS. Analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is presently 104.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APD. Mizuho increased 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 report on Tuesday, July 15th. Barclays dropped their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup upped their price objective on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus target price of $334.75.

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.