Cullen Frost Bankers Inc. Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Cullen Frost Bankers Inc. raised its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 35.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,591 shares of the basic materials company’s stock after acquiring an additional 11,363 shares during the period. Cullen Frost Bankers Inc.’s holdings in Air Products and Chemicals were worth $11,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $27,000. Security National Bank purchased a new stake in Air Products and Chemicals during the fourth quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals in the first quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at $28,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup raised their price objective on Air Products and Chemicals from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Morgan Stanley raised their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, June 5th. UBS Group upped their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $297.40.

Air Products and Chemicals Trading Down 1.8 %

NYSE:APD opened at $268.71 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The company has a market cap of $59.74 billion, a PE ratio of 24.25, a P/E/G ratio of 3.72 and a beta of 0.81. The business’s 50 day moving average is $268.38 and its two-hundred day moving average is $256.18.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.63%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

About Air Products and Chemicals

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.