Magnus Financial Group LLC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Magnus Financial Group LLC acquired a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 672 shares of the basic materials company’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in Air Products and Chemicals by 62.3% in the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after buying an additional 4,309,040 shares during the period. National Bank of Canada FI boosted its holdings in Air Products and Chemicals by 2,931.0% in the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after buying an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Air Products and Chemicals by 127.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after buying an additional 1,564,169 shares during the period. Clearbridge Investments LLC raised its position in shares of Air Products and Chemicals by 50.6% during the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after buying an additional 520,179 shares in the last quarter. Finally, Scharf Investments LLC purchased a new stake in shares of Air Products and Chemicals during the 1st quarter valued at about $87,173,000. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $326.71 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $72.63 billion, a P/E ratio of 29.49, a P/E/G ratio of 3.87 and a beta of 0.82. The company’s 50-day simple moving average is $287.49 and its two-hundred day simple moving average is $267.44. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $328.72.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their target price for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. BMO Capital Markets upped their target price 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. Mizuho upped their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” 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 price objective for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $320.24.

Air Products and Chemicals Company 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.