State of Alaska Department of Revenue Has $7.69 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

State of Alaska Department of Revenue lifted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,834 shares of the basic materials company’s stock after acquiring an additional 1,660 shares during the period. State of Alaska Department of Revenue’s holdings in Air Products and Chemicals were worth $7,691,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in Air Products and Chemicals during the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC increased its stake in 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 worth $34,000 after purchasing an additional 135 shares in the last quarter. Iron Horse Wealth Management LLC increased its stake in Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. Trifecta Capital Advisors LLC increased its stake in Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares in the last quarter. Finally, Beacon Capital Management LLC increased its stake in Air Products and Chemicals by 128.8% during the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 103 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on APD shares. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Citigroup increased their target price on Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. UBS Group raised their price target on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Mizuho raised their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.12.

Air Products and Chemicals Trading Up 0.1 %

Shares of Air Products and Chemicals stock opened at $318.26 on Tuesday. The business has a fifty day simple moving average of $295.48 and a two-hundred day simple moving average of $272.56. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42. The company has a market capitalization of $70.75 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

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.