Air Products & Chemicals, Inc. (NYSE:APD) Stake Boosted by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 13.7% during the third quarter, HoldingsChannel reports. The firm owned 17,834 shares of the basic materials company’s stock after acquiring an additional 2,149 shares during the period. IFM Investors Pty Ltd’s holdings in Air Products & Chemicals were worth $5,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of APD. Toth Financial Advisory Corp purchased a new position in Air Products & Chemicals in the 2nd quarter worth about $27,000. Crewe Advisors LLC purchased a new position in Air Products & Chemicals in the 3rd quarter worth about $31,000. Evolution Wealth Advisors LLC increased its stake in Air Products & Chemicals by 56.9% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 113 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Watson Rebecca purchased a new position in Air Products & Chemicals during the 2nd quarter valued at about $35,000. Finally, TCTC Holdings LLC purchased a new position in Air Products & Chemicals during the 2nd quarter valued at about $36,000. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

APD has been the topic of several research analyst reports. BMO Capital Markets lifted their target price on Air Products & Chemicals from $359.00 to $363.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Evercore ISI initiated coverage on Air Products & Chemicals in a research note on Monday, September 21st. They set an “outperform” rating on the stock. Wells Fargo & Company lifted their target price on Air Products & Chemicals from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday. Zacks Investment Research cut Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $305.00 target price on the stock. in a research note on Monday, September 28th. Finally, Barclays lifted their target price on Air Products & Chemicals from $265.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Air Products & Chemicals has a consensus rating of “Buy” and a consensus price target of $292.38.

APD traded up $2.18 on Friday, hitting $298.14. The company had a trading volume of 1,398,650 shares, compared to its average volume of 1,206,404. The company’s fifty day moving average price is $297.40 and its 200 day moving average price is $260.10. Air Products & Chemicals, Inc. has a 1-year low of $167.43 and a 1-year high of $310.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.48 and a quick ratio of 3.32. The stock has a market cap of $65.86 billion, a price-to-earnings ratio of 34.79, a price-to-earnings-growth ratio of 3.50 and a beta of 0.85.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.03. Air Products & Chemicals had a return on equity of 15.96% and a net margin of 21.58%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company earned $2.17 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Air Products & Chemicals, Inc. will post 8.4 EPS for the current year.

Air Products & Chemicals Profile

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.

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

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