Cary Street Partners Investment Advisory LLC Increases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Cary Street Partners Investment Advisory LLC raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 27.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,885 shares of the basic materials company’s stock after purchasing an additional 1,275 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Air Products and Chemicals were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Morgan Stanley increased its position in Air Products and Chemicals by 4.6% during 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 last quarter. Northern Trust Corp raised its holdings in shares of Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after buying an additional 39,215 shares during the period. Raymond James & Associates boosted its holdings in Air Products and Chemicals by 3.6% during the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after acquiring an additional 66,906 shares during the period. FMR LLC grew its position in Air Products and Chemicals by 1.3% in the 3rd quarter. FMR LLC now owns 1,715,055 shares of the basic materials company’s stock valued at $486,047,000 after acquiring an additional 21,422 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Air Products and Chemicals by 1.5% during the third quarter. Stifel Financial Corp now owns 1,339,666 shares of the basic materials company’s stock worth $379,680,000 after purchasing an additional 20,113 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 1.2 %

Air Products and Chemicals stock traded up $3.03 during midday trading on Monday, reaching $253.58. The company’s stock had a trading volume of 181,852 shares, compared to its average volume of 1,685,015. The stock has a market capitalization of $56.37 billion, a P/E ratio of 22.61, a PEG ratio of 2.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The stock’s 50-day simple moving average is $239.83 and its 200-day simple moving average is $252.87. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm earned $2.74 EPS. The firm’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.31 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on APD. Seaport Res Ptn downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. TD Cowen raised their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Argus lowered Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. BMO Capital Markets raised their price objective on Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Bank of America upped their target price on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and an average target price of $273.77.

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.