Intact Investment Management Inc. Has $6.33 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Intact Investment Management Inc. boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,100 shares of the basic materials company’s stock after buying an additional 400 shares during the quarter. Intact Investment Management Inc.’s holdings in Air Products and Chemicals were worth $6,325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APD. Nordea Investment Management AB grew its stake in Air Products and Chemicals by 1,696.4% in the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after buying an additional 489,350 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Air Products and Chemicals by 64.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 766,076 shares of the basic materials company’s stock valued at $217,106,000 after buying an additional 299,649 shares during the last quarter. International Assets Investment Management LLC grew its stake in Air Products and Chemicals by 26,852.1% in the 4th quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock valued at $754,920,000 after buying an additional 274,697 shares during the last quarter. Morgan Stanley grew its stake in Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after buying an additional 235,037 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Air Products and Chemicals by 36.4% in the 4th quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock valued at $191,687,000 after buying an additional 186,894 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. UBS Group lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $328.00 to $241.00 in a research report on Thursday, February 8th. Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Mizuho decreased their price target on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Finally, Wolfe Research initiated coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded up $1.00 during midday trading on Friday, reaching $236.08. 1,251,373 shares of the company’s stock were exchanged, compared to its average volume of 1,281,333. The company’s 50 day simple moving average is $237.14 and its two-hundred day simple moving average is $255.82. The firm has a market capitalization of $52.48 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. Air Products and Chemicals’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 earnings per share. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.38 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.