Covestor Ltd Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Covestor Ltd decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 11.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 543 shares of the basic materials company’s stock after selling 72 shares during the period. Covestor Ltd’s holdings in Air Products and Chemicals were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APD. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the 2nd quarter worth $32,000. Iron Horse Wealth Management LLC boosted its position in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares during the period. Trifecta Capital Advisors LLC boosted its position in shares of Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after buying an additional 136 shares during the period. Beacon Capital Management LLC grew its stake in shares of Air Products and Chemicals by 128.8% in the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after buying an additional 103 shares in the last quarter. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Air Products and Chemicals by 1,425.0% during the 2nd quarter. Valued Wealth Advisors LLC now owns 183 shares of the basic materials company’s stock valued at $47,000 after buying an additional 171 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

Shares of APD opened at $312.99 on Monday. The firm has a fifty day moving average of $301.56 and a 200-day moving average of $277.23. The company has a market cap of $69.58 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.22 and a beta of 0.81. 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, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, November 7th. The basic materials company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.19 billion. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. UBS Group boosted their price objective on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Wells Fargo & Company raised their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.00.

Air Products and Chemicals Company Profile

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.