Air Products & Chemicals, Inc. (NYSE:APD) Position Lessened by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,730 shares of the basic materials company’s stock after selling 100 shares during the period. Cullen Frost Bankers Inc.’s holdings in Air Products & Chemicals were worth $1,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in APD. Vanguard Group Inc. increased its position in Air Products & Chemicals by 2.1% during the second quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock worth $4,453,711,000 after buying an additional 411,472 shares during the last quarter. BlackRock Inc. raised its stake in shares of Air Products & Chemicals by 2.8% in the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock valued at $3,809,950,000 after acquiring an additional 454,016 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Air Products & Chemicals by 1.7% in the second quarter. Wells Fargo & Company MN now owns 4,009,741 shares of the basic materials company’s stock valued at $907,685,000 after acquiring an additional 66,225 shares during the last quarter. Northern Trust Corp raised its stake in shares of Air Products & Chemicals by 0.3% in the second quarter. Northern Trust Corp now owns 3,271,182 shares of the basic materials company’s stock valued at $740,498,000 after acquiring an additional 9,084 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Air Products & Chemicals by 2.6% in the second quarter. Invesco Ltd. now owns 2,107,983 shares of the basic materials company’s stock valued at $477,183,000 after acquiring an additional 54,289 shares during the last quarter. Institutional investors and hedge funds own 85.26% of the company’s stock.

APD traded up $5.85 during trading on Friday, reaching $233.43. 915,250 shares of the company’s stock were exchanged, compared to its average volume of 833,822. The company’s fifty day moving average price is $216.06 and its 200-day moving average price is $218.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28. Air Products & Chemicals, Inc. has a fifty-two week low of $149.64 and a fifty-two week high of $232.47. The firm has a market capitalization of $47.72 billion, a PE ratio of 31.33, a P/E/G ratio of 1.91 and a beta of 0.84.

Air Products & Chemicals (NYSE:APD) last released its earnings results on Thursday, November 7th. The basic materials company reported $2.27 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.02). Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the firm posted $2.00 EPS. Air Products & Chemicals’s revenue was up .1% on a year-over-year basis. Research analysts forecast that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current fiscal year.

Several research firms recently weighed in on APD. Wells Fargo & Co began coverage on shares of Air Products & Chemicals in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $240.00 price objective for the company. ValuEngine cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. BMO Capital Markets boosted their price objective on shares of Air Products & Chemicals from $235.00 to $252.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. HSBC cut shares of Air Products & Chemicals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $217.00 to $215.00 in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $254.00 price objective (up previously from $214.00) on shares of Air Products & Chemicals in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $238.47.

Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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