Bank of New York Mellon Corp Sells 93,493 Shares of Air Products and Chemicals, Inc. $APD

Bank of New York Mellon Corp trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 4.6% in the 2nd quarter, Holdings Channel reports. The fund owned 1,931,190 shares of the basic materials company’s stock after selling 93,493 shares during the quarter. Bank of New York Mellon Corp’s holdings in Air Products and Chemicals were worth $544,712,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of APD. Wayfinding Financial LLC bought a new position in shares of Air Products and Chemicals in the 1st quarter worth about $25,000. Saudi Central Bank bought a new position in shares of Air Products and Chemicals in the 1st quarter worth about $26,000. Cheviot Value Management LLC bought a new position in shares of Air Products and Chemicals in the 1st quarter worth about $27,000. Westside Investment Management Inc. increased its stake in Air Products and Chemicals by 228.1% during the 2nd quarter. Westside Investment Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Finally, Financial Connections Group Inc. increased its stake in Air Products and Chemicals by 46.7% during the 2nd quarter. Financial Connections Group Inc. now owns 110 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 35 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $239.31 on Tuesday. The firm’s 50-day moving average price is $272.58 and its 200-day moving average price is $278.63. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The company has a market cap of $53.26 billion, a PE ratio of 34.43, a PEG ratio of 5.16 and a beta of 0.83. Air Products and Chemicals, Inc. has a 52-week low of $235.97 and a 52-week high of $341.14.

Analyst Ratings Changes

A number of analysts have weighed in on APD shares. Wall Street Zen upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. UBS Group reduced their price objective on shares of Air Products and Chemicals from $354.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, October 6th. The Goldman Sachs Group set a $335.00 price objective on shares of Air Products and Chemicals in a research note on Wednesday, October 1st. Finally, Argus upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $330.00.

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.