Allspring Global Investments Holdings LLC Buys 52 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Allspring Global Investments Holdings LLC raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% during the 3rd quarter, Holdings Channel reports. The fund owned 10,772 shares of the basic materials company’s stock after purchasing an additional 52 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Air Products and Chemicals were worth $3,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after purchasing an additional 34 shares during the last quarter. CX Institutional raised its stake in Air Products and Chemicals by 2.6% in the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock worth $400,000 after acquiring an additional 34 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 37 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

APD has been the subject of a number of research analyst reports. Mizuho raised their target price on 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. BMO Capital Markets raised their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Barclays increased their price target on 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. The Goldman Sachs Group increased their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $326.12.

Air Products and Chemicals Price Performance

NYSE:APD opened at $315.30 on Wednesday. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $332.42. The stock has a 50 day moving average of $296.32 and a two-hundred day moving average of $273.15. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The firm has a market cap of $70.09 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. On average, analysts expect that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal 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.