Merit Financial Group LLC Grows Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Merit Financial Group LLC raised its position in Air Products and Chemicals, Inc. (NYSE:APD) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,454 shares of the basic materials company’s stock after buying an additional 273 shares during the period. Merit Financial Group LLC’s holdings in Air Products and Chemicals were worth $398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cape Cod Five Cents Savings Bank purchased a new position in Air Products and Chemicals in the third quarter valued at $376,000. Eos Management L.P. boosted its position in Air Products and Chemicals by 26.2% during the fourth quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after acquiring an additional 5,727 shares during the last quarter. Roffman Miller Associates Inc. PA boosted its position in Air Products and Chemicals by 3.6% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after acquiring an additional 2,285 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth about $1,177,000. Finally, Bellwether Advisors LLC acquired a new position in Air Products and Chemicals during the third quarter worth about $501,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $248.65 on Wednesday. The stock’s 50-day moving average is $238.93 and its two-hundred day moving average is $253.28. The firm has a market cap of $55.28 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.66 and a beta of 0.80. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company posted $2.74 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. Analysts predict that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APD. Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup decreased their target price on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. TheStreet lowered Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. Wolfe Research started coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. Finally, Seaport Res Ptn cut Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $277.43.

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.