Cullinan Associates Inc. Purchases 2,700 Shares of Air Products & Chemicals, Inc. (APD)

Cullinan Associates Inc. raised its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 47.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,400 shares of the basic materials company’s stock after purchasing an additional 2,700 shares during the period. Cullinan Associates Inc.’s holdings in Air Products & Chemicals were worth $1,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APD. Mount Yale Investment Advisors LLC purchased a new stake in shares of Air Products & Chemicals during the 1st quarter worth about $114,000. Braun Bostich & Associates Inc. raised its stake in shares of Air Products & Chemicals by 542.6% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 624 shares in the last quarter. Private Capital Group LLC raised its stake in shares of Air Products & Chemicals by 2,231.4% during the 1st quarter. Private Capital Group LLC now owns 816 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 781 shares in the last quarter. IMS Capital Management purchased a new stake in shares of Air Products & Chemicals during the 2nd quarter worth about $146,000. Finally, Vigilant Capital Management LLC purchased a new stake in shares of Air Products & Chemicals during the 2nd quarter worth about $158,000. 86.10% of the stock is owned by institutional investors.

Shares of APD stock opened at $155.40 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.24 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $34.97 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.47 and a beta of 1.05. Air Products & Chemicals, Inc. has a twelve month low of $152.71 and a twelve month high of $175.17.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, July 26th. The basic materials company reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.11. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.31 billion. Air Products & Chemicals had a return on equity of 15.15% and a net margin of 17.13%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. On average, research analysts forecast that Air Products & Chemicals, Inc. will post 7.45 EPS for the current year.

A number of research firms have recently weighed in on APD. Zacks Investment Research downgraded Air Products & Chemicals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Susquehanna Bancshares raised their price objective on Air Products & Chemicals from $200.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, August 1st. JPMorgan Chase & Co. cut their price objective on Air Products & Chemicals from $172.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Citigroup raised their price objective on Air Products & Chemicals from $198.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Finally, Credit Suisse Group raised their price objective on Air Products & Chemicals from $182.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, July 27th. One equities research analyst has rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $186.65.

Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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

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