Linscomb Wealth Inc. Has $5.40 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Linscomb Wealth Inc. raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,126 shares of the basic materials company’s stock after purchasing an additional 238 shares during the quarter. Linscomb Wealth Inc.’s holdings in Air Products and Chemicals were worth $5,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of APD. Empirical Finance LLC increased its position in Air Products and Chemicals by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 7,672 shares of the basic materials company’s stock worth $2,284,000 after buying an additional 167 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Air Products and Chemicals in the third quarter valued at about $200,000. CIBC Asset Management Inc increased its position in Air Products and Chemicals by 7.5% during the third quarter. CIBC Asset Management Inc now owns 38,712 shares of the basic materials company’s stock worth $11,526,000 after acquiring an additional 2,686 shares during the period. Intellectus Partners LLC raised its stake in Air Products and Chemicals by 22.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,665 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 305 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new stake in Air Products and Chemicals in the 3rd quarter valued at about $3,234,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APD. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a research report on Monday, October 7th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research report on Friday, October 25th. Citigroup raised their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price target for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Finally, UBS Group raised their target price on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $329.76.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded up $0.20 during midday trading on Friday, hitting $316.08. The company’s stock had a trading volume of 220,641 shares, compared to its average volume of 1,606,031. The stock has a fifty day moving average price of $304.59 and a 200 day moving average price of $279.11. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $332.42. The firm has a market capitalization of $70.27 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 3.14 and a beta of 0.81.

Air Products and Chemicals Company 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.