Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 35.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,989 shares of the basic materials company’s stock after selling 1,621 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Air Products and Chemicals were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cozad Asset Management Inc. boosted its stake in shares of Air Products and Chemicals by 7.8% during the 4th quarter. Cozad Asset Management Inc. now owns 1,404 shares of the basic materials company’s stock worth $384,000 after acquiring an additional 102 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Air Products and Chemicals by 6.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 17,124 shares of the basic materials company’s stock worth $4,689,000 after acquiring an additional 1,028 shares in the last quarter. Amica Mutual Insurance Co. boosted its stake in shares of Air Products and Chemicals by 62.2% during the 4th quarter. Amica Mutual Insurance Co. now owns 14,931 shares of the basic materials company’s stock worth $4,088,000 after acquiring an additional 5,725 shares in the last quarter. Ledyard National Bank boosted its stake in shares of Air Products and Chemicals by 19.9% during the 4th quarter. Ledyard National Bank now owns 2,264 shares of the basic materials company’s stock worth $620,000 after acquiring an additional 376 shares in the last quarter. Finally, Greatmark Investment Partners Inc. boosted its stake in shares of Air Products and Chemicals by 28.9% during the 4th quarter. Greatmark Investment Partners Inc. now owns 2,955 shares of the basic materials company’s stock worth $809,000 after acquiring an additional 662 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on APD shares. Mizuho reduced their price target on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Morgan Stanley reduced their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Argus downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Stock Down 0.7 %

Shares of NYSE APD opened at $236.34 on Wednesday. The company has a 50 day simple moving average of $237.53 and a 200-day simple moving average of $254.67. The company has a market capitalization of $52.54 billion, a P/E ratio of 22.55, a P/E/G ratio of 2.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. 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 announced its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.74 EPS. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current 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.