Cohen Lawrence B Lowers Position in Air Products & Chemicals, Inc. (NYSE:APD)

Cohen Lawrence B cut its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 15.2% in the third quarter, HoldingsChannel.com reports. The firm owned 5,534 shares of the basic materials company’s stock after selling 995 shares during the quarter. Cohen Lawrence B’s holdings in Air Products & Chemicals were worth $1,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new position in Air Products & Chemicals during the 2nd quarter valued at about $26,000. Lenox Wealth Advisors LLC purchased a new position in Air Products & Chemicals during the 3rd quarter valued at about $27,000. Squar Milner Financial Services LLC boosted its holdings in Air Products & Chemicals by 87.1% during the 2nd quarter. Squar Milner Financial Services LLC now owns 131 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 61 shares during the period. Assetmark Inc. boosted its holdings in Air Products & Chemicals by 163.0% during the 2nd quarter. Assetmark Inc. now owns 142 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 88 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in Air Products & Chemicals during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 85.26% of the company’s stock.

APD stock opened at $218.85 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.28 and a quick ratio of 2.09. The firm has a market capitalization of $47.25 billion, a P/E ratio of 29.38, a P/E/G ratio of 1.89 and a beta of 0.84. The business’s 50-day moving average is $215.96 and its two-hundred day moving average is $217.91. Air Products & Chemicals, Inc. has a 1 year low of $149.64 and a 1 year high of $232.47.

APD has been the subject of a number of research analyst reports. Wells Fargo & Co initiated coverage on Air Products & Chemicals in a report on Tuesday, October 15th. They set a “market perform” rating and a $240.00 target price for the company. Sanford C. Bernstein cut Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 target price for the company. in a report on Thursday, July 18th. BMO Capital Markets raised their target price on Air Products & Chemicals from $235.00 to $252.00 and gave the company an “outperform” rating in a report on Monday, August 12th. HSBC lowered Air Products & Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the company from $217.00 to $215.00 in a research report on Thursday, August 1st. Finally, Barclays increased their price target on Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Air Products & Chemicals presently has an average rating of “Hold” and an average price target of $237.93.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Read More: Federal Reserve

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products & Chemicals, Inc. (NYSE:APD).

Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.