Arizona State Retirement System lifted its stake in Air Products & Chemicals, Inc. (NYSE:APD) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 78,745 shares of the basic materials company’s stock after buying an additional 1,517 shares during the quarter. Arizona State Retirement System’s holdings in Air Products & Chemicals were worth $13,154,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new stake in Air Products & Chemicals during the 1st quarter valued at $114,000. Braun Bostich & Associates Inc. increased its holdings in Air Products & Chemicals by 542.6% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 739 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 624 shares in the last quarter. IMS Capital Management acquired a new stake in Air Products & Chemicals during the 2nd quarter valued at $146,000. NuWave Investment Management LLC increased its holdings in Air Products & Chemicals by 8,770.0% during the 3rd quarter. NuWave Investment Management LLC now owns 887 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 877 shares in the last quarter. Finally, Vigilant Capital Management LLC acquired a new stake in Air Products & Chemicals during the 2nd quarter valued at $158,000. 86.18% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on APD. Deutsche Bank raised their price target on Air Products & Chemicals from $190.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $197.00 price target (up from $195.00) on shares of Air Products & Chemicals in a report on Friday, July 27th. Zacks Investment Research raised Air Products & Chemicals from a “sell” rating to a “hold” rating and set a $181.00 price target for the company in a report on Monday, July 30th. Sanford C. Bernstein began coverage on Air Products & Chemicals in a report on Monday, September 24th. They set an “outperform” rating and a $202.00 price target for the company. Finally, Citigroup raised their price target on Air Products & Chemicals from $198.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $188.07.
Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.11. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.31 billion. Air Products & Chemicals had a return on equity of 15.15% and a net margin of 17.13%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. Analysts forecast that Air Products & Chemicals, Inc. will post 7.45 EPS for the current year.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.
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