Massachusetts Financial Services Co. MA Has $375.83 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Massachusetts Financial Services Co. MA cut its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 24.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,274,328 shares of the basic materials company's stock after selling 416,013 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.57% of Air Products and Chemicals worth $375,825,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Air Products and Chemicals by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock worth $6,231,560,000 after purchasing an additional 207,404 shares during the period. Dodge & Cox increased its position 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 buying an additional 64,960 shares during the period. Bank of America Corp DE lifted its holdings in shares of 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 worth $1,574,670,000 after buying an additional 3,062,157 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Air Products and Chemicals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company's stock worth $1,430,354,000 after buying an additional 57,314 shares during the last quarter. Finally, Mantle Ridge LP bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $1,191,344,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Down 0.3%

Shares of NYSE APD opened at $291.06 on Tuesday. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The business has a fifty day moving average of $279.19 and a two-hundred day moving average of $290.18. The stock has a market cap of $64.77 billion, a PE ratio of 42.31, a PEG ratio of 5.60 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a net margin of 12.76% and a return on equity of 15.48%. The company's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $2.85 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 1st will be given 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 2.46%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 104.07%.

Analyst Ratings Changes

APD has been the subject of several research analyst reports. Bank of America cut shares of 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. Barclays cut their price objective 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. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price for the company. UBS Group boosted their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company raised their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and a consensus price target of $333.59.

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.

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