Victory Capital Management Inc. Sells 1,352 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Victory Capital Management Inc. lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,522 shares of the basic materials company’s stock after selling 1,352 shares during the quarter. Victory Capital Management Inc.’s holdings in Air Products and Chemicals were worth $23,964,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $27,000. Roble Belko & Company Inc bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $27,000. Stuart Chaussee & Associates Inc. lifted its holdings in Air Products and Chemicals by 257.6% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 85 shares during the last quarter. Rakuten Securities Inc. bought a new position in Air Products and Chemicals during the fourth quarter worth about $33,000. Finally, Legacy Bridge LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on APD shares. TD Cowen raised their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America lifted their price target on Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, UBS Group lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their price objective for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $277.43.

Air Products and Chemicals Stock Down 1.0 %

Shares of NYSE:APD opened at $246.27 on Thursday. The firm has a market capitalization of $54.75 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $307.71. The firm has a fifty day moving average of $238.93 and a 200 day moving average of $253.28.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.74 EPS. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.31 EPS for the current fiscal year.

Air Products and Chemicals Profile

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.