Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Spring Capital Management LLC

Spring Capital Management LLC boosted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.2% in the third quarter, Holdings Channel.com reports. The firm owned 18,494 shares of the basic materials company’s stock after acquiring an additional 1,083 shares during the period. Air Products and Chemicals comprises approximately 3.9% of Spring Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Spring Capital Management LLC’s holdings in Air Products and Chemicals were worth $5,241,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its holdings in Air Products and Chemicals by 151.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after acquiring an additional 14,981 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Air Products and Chemicals by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after acquiring an additional 2,321 shares in the last quarter. Woodstock Corp grew its holdings in Air Products and Chemicals by 6.5% during the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after acquiring an additional 2,387 shares in the last quarter. Trilogy Capital Inc. acquired a new position in Air Products and Chemicals during the 1st quarter worth $2,625,000. Finally, ZWJ Investment Counsel Inc. grew its holdings in Air Products and Chemicals by 33.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock worth $15,217,000 after acquiring an additional 12,925 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of APD stock traded down $1.96 during midday trading on Wednesday, reaching $328.41. 25,517 shares of the company were exchanged, compared to its average volume of 1,613,780. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $332.42. The company has a market cap of $73.01 billion, a P/E ratio of 29.82, a PEG ratio of 3.87 and a beta of 0.82. The company’s 50 day moving average price is $291.79 and its two-hundred day moving average price is $270.20. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on APD shares. JPMorgan Chase & Co. raised their price objective on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. The Goldman Sachs Group raised their price target on shares of 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. Barclays raised their price target on shares of 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. Finally, Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.82.

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.