Air Products and Chemicals, Inc. (APD) Holdings Lowered by Private Asset Management Inc.

Private Asset Management Inc. decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 84.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 499 shares of the basic materials company’s stock after selling 2,801 shares during the period. Private Asset Management Inc.’s holdings in Air Products and Chemicals were worth $499,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Patten Group Inc. lifted its holdings in shares of Air Products and Chemicals by 3.7% in the 1st quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 28 shares during the last quarter. Guardian Life Insurance Co. of America lifted its holdings in shares of Air Products and Chemicals by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 6 shares during the last quarter. IMS Capital Management bought a new position in shares of Air Products and Chemicals in the 2nd quarter valued at about $129,000. Armbruster Capital Management Inc. lifted its holdings in shares of Air Products and Chemicals by 13.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 908 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 108 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its holdings in shares of Air Products and Chemicals by 8.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 931 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 75 shares during the last quarter. 87.26% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on APD shares. SunTrust Banks, Inc. reissued a “buy” rating and issued a $175.00 price objective on shares of Air Products and Chemicals in a research report on Friday. Citigroup Inc. increased their price objective on shares of Air Products and Chemicals from $172.30 to $185.00 and gave the stock a “buy” rating in a research report on Friday. Barclays PLC increased their price objective on shares of Air Products and Chemicals from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Group LLC reissued a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a research report on Thursday, September 28th. Finally, Susquehanna Bancshares Inc raised shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $165.00 to $175.00 in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $160.57.

Shares of Air Products and Chemicals, Inc. (NYSE APD) traded down 0.14% during trading on Friday, hitting $161.17. 407,861 shares of the stock were exchanged. The stock’s 50 day moving average price is $151.43 and its 200-day moving average price is $145.82. Air Products and Chemicals, Inc. has a one year low of $129.00 and a one year high of $162.86. The company has a market cap of $35.13 billion, a price-to-earnings ratio of 12.11 and a beta of 1.26.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.08. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, analysts predict that Air Products and Chemicals, Inc. will post $6.23 EPS for the current year.

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Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

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