CIBC Private Wealth Group LLC Increases Holdings in Air Products & Chemicals, Inc. (NYSE:APD)

CIBC Private Wealth Group LLC grew its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,592 shares of the basic materials company’s stock after buying an additional 1,851 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Air Products & Chemicals were worth $3,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dorsey Wright & Associates acquired a new position in Air Products & Chemicals during the 2nd quarter worth approximately $1,832,000. Rockland Trust Co. raised its stake in shares of Air Products & Chemicals by 27.6% in the second quarter. Rockland Trust Co. now owns 1,508 shares of the basic materials company’s stock worth $341,000 after purchasing an additional 326 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of Air Products & Chemicals by 29.0% in the second quarter. Carroll Financial Associates Inc. now owns 667 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 150 shares during the last quarter. EFG Asset Management Americas Corp. purchased a new stake in shares of Air Products & Chemicals in the second quarter worth approximately $2,907,000. Finally, Strategic Blueprint LLC raised its stake in shares of Air Products & Chemicals by 1.8% in the second quarter. Strategic Blueprint LLC now owns 7,142 shares of the basic materials company’s stock worth $1,617,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

Shares of APD opened at $214.88 on Monday. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $47.24 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.89 and a beta of 0.85. The stock has a 50 day moving average of $219.40 and a 200 day moving average of $215.99. Air Products & Chemicals, Inc. has a 12 month low of $148.44 and a 12 month high of $232.47.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.03. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.32 billion. Air Products & Chemicals had a return on equity of 15.42% and a net margin of 19.14%. Air Products & Chemicals’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $1.95 earnings per share. As a group, equities research analysts predict that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current year.

APD has been the subject of several analyst reports. Citigroup set a $260.00 price objective on Air Products & Chemicals and gave the stock a “buy” rating in a research note on Monday, July 15th. Morgan Stanley increased their price objective on Air Products & Chemicals from $168.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. BMO Capital Markets increased their price objective on Air Products & Chemicals from $235.00 to $252.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Wells Fargo & Co initiated coverage on Air Products & Chemicals in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $240.00 price objective for the company. Finally, Seaport Global Securities downgraded Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Air Products & Chemicals currently has a consensus rating of “Hold” and a consensus price target of $234.53.

In other Air Products & Chemicals news, CEO Seifi Ghasemi purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $227.16 per share, with a total value of $4,543,200.00. Following the completion of the transaction, the chief executive officer now owns 453,783 shares of the company’s stock, valued at approximately $103,081,346.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, 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 refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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

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