Matrix Trust Co Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Matrix Trust Co decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,124 shares of the basic materials company’s stock after selling 153 shares during the quarter. Air Products and Chemicals makes up 0.5% of Matrix Trust Co’s holdings, making the stock its 27th largest position. Matrix Trust Co’s holdings in Air Products and Chemicals were worth $1,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in Air Products and Chemicals by 1,696.4% during the fourth quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock worth $142,344,000 after purchasing an additional 489,350 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Air Products and Chemicals by 64.2% in the third quarter. Envestnet Asset Management Inc. now owns 766,076 shares of the basic materials company’s stock valued at $217,106,000 after acquiring an additional 299,649 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Air Products and Chemicals by 26,852.1% in the fourth quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock valued at $754,920,000 after acquiring an additional 274,697 shares in the last quarter. Morgan Stanley lifted its position in shares of Air Products and Chemicals by 4.6% in the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after acquiring an additional 235,037 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of Air Products and Chemicals by 36.4% in the fourth quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock valued at $191,687,000 after acquiring an additional 186,894 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.4 %

APD stock traded up $1.00 during midday trading on Friday, hitting $236.08. 1,251,373 shares of the company’s stock were exchanged, compared to its average volume of 1,281,333. The business has a 50-day simple moving average of $237.14 and a two-hundred day simple moving average of $255.82. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $52.48 billion, a PE ratio of 22.53, a P/E/G ratio of 2.59 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. TD Cowen cut their price target on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, February 16th. BMO Capital Markets cut their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Barclays cut their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Finally, Wells Fargo & Company cut Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and a consensus target price of $276.36.

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.