Confluence Wealth Services Inc. bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,397 shares of the basic materials company’s stock, valued at approximately $1,642,000.
Several other hedge funds and other institutional investors have also made changes to their positions in APD. D Orazio & Associates Inc. purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter worth approximately $28,000. Arlington Partners LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $30,000. TAP Consulting LLC acquired a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $31,000. Finally, Emerald Advisers LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.62% of the company’s stock.
Several equities research analysts have issued reports on the stock. Mizuho decreased their price target on shares of Air Products and Chemicals from $313.00 to $312.00 and set a “buy” rating on the stock in a research note on Monday, February 7th. JPMorgan Chase & Co. raised shares of Air Products and Chemicals from a “neutral” rating to an “overweight” rating and set a $275.00 price target for the company in a research report on Monday, March 21st. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $255.00 in a report on Wednesday. Barclays cut their target price on Air Products and Chemicals from $300.00 to $275.00 in a research note on Monday. Finally, BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $383.00 to $280.00 in a research report on Tuesday, February 8th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Buy” and a consensus price target of $306.87.
Air Products and Chemicals (NYSE:APD – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The basic materials company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3 billion. Air Products and Chemicals had a return on equity of 15.32% and a net margin of 19.63%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 10.24 earnings per share for the current year.
Air Products and Chemicals Company Profile (Get Rating)
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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