Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,453 shares of the basic materials company’s stock after selling 59 shares during the period. Portside Wealth Group LLC’s holdings in Air Products and Chemicals were worth $730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norden Group LLC lifted its stake in shares of Air Products and Chemicals by 10.5% in the 1st quarter. Norden Group LLC now owns 1,785 shares of the basic materials company’s stock worth $432,000 after acquiring an additional 170 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Air Products and Chemicals by 29.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,772 shares of the basic materials company’s stock valued at $3,094,000 after purchasing an additional 2,929 shares during the period. AIA Group Ltd increased its position in shares of Air Products and Chemicals by 4.5% during the 1st quarter. AIA Group Ltd now owns 1,400 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 60 shares during the period. Empowered Funds LLC lifted its holdings in shares of Air Products and Chemicals by 280.0% in the first quarter. Empowered Funds LLC now owns 12,211 shares of the basic materials company’s stock valued at $2,958,000 after buying an additional 8,998 shares during the period. Finally, Forsta AP Fonden lifted its holdings in shares of Air Products and Chemicals by 67.4% in the first quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $11,072,000 after buying an additional 18,400 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APD shares. 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. Mizuho increased their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. UBS Group lifted their price target on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price objective on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Barclays lifted their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $327.00.

Air Products and Chemicals Trading Up 0.0 %

NYSE APD opened at $312.94 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $332.42. The firm’s fifty day simple moving average is $301.56 and its 200-day simple moving average is $276.93. The company has a market capitalization of $69.57 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 3.21 and a beta of 0.81.

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

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.