MAI Capital Management Acquires 1,436 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

MAI Capital Management raised its holdings in Air Products and Chemicals, Inc. (NYSE:APDGet Rating) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,809 shares of the basic materials company’s stock after acquiring an additional 1,436 shares during the period. MAI Capital Management’s holdings in Air Products and Chemicals were worth $17,285,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Air Products and Chemicals by 841.0% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,745,652 shares of the basic materials company’s stock worth $531,132,000 after acquiring an additional 1,560,148 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Air Products and Chemicals by 143.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,323 shares of the basic materials company’s stock worth $217,644,000 after acquiring an additional 422,062 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Air Products and Chemicals by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 6,305,512 shares of the basic materials company’s stock worth $1,918,516,000 after acquiring an additional 386,592 shares during the period. American Century Companies Inc. lifted its stake in shares of Air Products and Chemicals by 17.8% in the fourth quarter. American Century Companies Inc. now owns 2,126,489 shares of the basic materials company’s stock worth $647,006,000 after acquiring an additional 321,202 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Air Products and Chemicals by 193.0% in the fourth quarter. Russell Investments Group Ltd. now owns 340,325 shares of the basic materials company’s stock worth $103,485,000 after acquiring an additional 224,161 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.

A number of research firms recently commented on APD. StockNews.com began coverage on Air Products and Chemicals in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $337.00 to $285.00 in a report on Monday, February 7th. Barclays lowered their target price on Air Products and Chemicals from $300.00 to $275.00 in a report on Monday, May 9th. Deutsche Bank Aktiengesellschaft lowered their target price on Air Products and Chemicals from $300.00 to $272.00 in a report on Tuesday, May 10th. Finally, JPMorgan Chase & Co. upgraded Air Products and Chemicals from a “neutral” rating to an “overweight” rating and set a $275.00 target price for the company in a report on Monday, March 21st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals currently has an average rating of “Buy” and an average target price of $304.86.

Shares of NYSE APD traded up $6.66 during midday trading on Tuesday, hitting $239.58. 893,459 shares of the stock traded hands, compared to its average volume of 1,387,897. The company has a market cap of $53.13 billion, a PE ratio of 23.86, a P/E/G ratio of 1.74 and a beta of 0.87. Air Products and Chemicals, Inc. has a one year low of $216.24 and a one year high of $316.39. The business has a 50 day moving average price of $239.91 and a two-hundred day moving average price of $267.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.79 and a current ratio of 1.95.

Air Products and Chemicals (NYSE:APDGet Rating) last released its quarterly earnings data on Thursday, May 5th. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.35 by $0.03. Air Products and Chemicals had a return on equity of 15.32% and a net margin of 19.63%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 10.27 EPS for the current fiscal year.

Air Products and Chemicals 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.

Read More

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APDGet Rating).

Institutional Ownership by Quarter for Air Products and Chemicals (NYSE:APD)

Receive News & Ratings for Air Products and Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.