Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,084 shares of the basic materials company’s stock after selling 720 shares during the period. Air Products and Chemicals accounts for about 1.1% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 26th biggest position. Penobscot Investment Management Company Inc.’s holdings in Air Products and Chemicals were worth $9,058,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of APD. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals during the 4th quarter worth $27,000. Roble Belko & Company Inc purchased a new position in shares of Air Products and Chemicals during the fourth quarter worth about $27,000. Stuart Chaussee & Associates Inc. increased its position in Air Products and Chemicals by 257.6% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 85 shares during the period. Rakuten Securities Inc. purchased a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $33,000. Finally, Legacy Bridge LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $35,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APD shares. Wolfe Research assumed 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 objective on the stock. Mizuho dropped 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 note on Tuesday, February 6th. TD Cowen reduced their price objective on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Citigroup boosted their target price on Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets reduced 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $276.36.

Air Products and Chemicals Stock Down 2.3 %

APD traded down $5.39 during trading hours on Tuesday, reaching $232.73. 1,167,337 shares of the stock traded hands, compared to its average volume of 1,708,915. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. The firm’s fifty day simple moving average is $237.37 and its two-hundred day simple moving average is $255.01. The company has a market cap of $51.74 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.60 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.73 by $0.12. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the firm posted $2.74 earnings per share. The company’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts forecast 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.