Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by CX Institutional

CX Institutional raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,343 shares of the basic materials company’s stock after buying an additional 34 shares during the quarter. CX Institutional’s holdings in Air Products and Chemicals were worth $400,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Avantax Advisory Services Inc. grew its position in Air Products and Chemicals by 151.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock valued at $6,028,000 after acquiring an additional 14,981 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Air Products and Chemicals by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after acquiring an additional 2,321 shares in the last quarter. Woodstock Corp increased its position in shares of Air Products and Chemicals by 6.5% during the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after acquiring an additional 2,387 shares during the period. Trilogy Capital Inc. acquired a new stake in shares of Air Products and Chemicals in the first quarter valued at $2,625,000. Finally, FORA Capital LLC boosted its holdings in Air Products and Chemicals by 13.0% in the first quarter. FORA Capital LLC now owns 33,823 shares of the basic materials company’s stock valued at $8,194,000 after purchasing an additional 3,881 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $328.81 on Friday. 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 50-day moving average price of $288.49 and a 200 day moving average price of $267.87. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $329.03. The company has a market cap of $73.10 billion, a P/E ratio of 29.68, a PEG ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Research analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on APD shares. Wells Fargo & Company upped their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a report on Monday, October 7th. Barclays boosted their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $295.00 to $364.00 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.24.

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.