Cannell & Co. Grows Position in Air Products and Chemicals, Inc. (NYSE:APD)

Cannell & Co. boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,668 shares of the basic materials company’s stock after buying an additional 4,801 shares during the quarter. Cannell & Co.’s holdings in Air Products and Chemicals were worth $17,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Air Products and Chemicals by 1,696.4% in 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 during the last quarter. Envestnet Asset Management Inc. grew its holdings 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 worth $217,106,000 after acquiring an additional 299,649 shares during the period. International Assets Investment Management LLC increased its position in Air Products and Chemicals by 26,852.1% during 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 during the last quarter. Morgan Stanley lifted its holdings in 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 during the period. Finally, Truist Financial Corp boosted its position in 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 worth $191,687,000 after purchasing an additional 186,894 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded up $2.13 during midday trading on Wednesday, reaching $238.47. 682,490 shares of the company were exchanged, compared to its average volume of 1,725,295. 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 cap of $53.01 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.62 and a beta of 0.81. The business’s fifty day moving average is $237.53 and its two-hundred day moving average is $254.67. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.74 earnings per share. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on APD. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Seaport Res Ptn downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Argus cut Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Morgan Stanley cut their price target on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, Wolfe Research began coverage on Air Products and Chemicals in a research report on Friday, March 1st. They set an “outperform” rating and a $279.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $274.64.

Air Products and Chemicals Company Profile

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.