CIBC Asset Management Inc Acquires 2,686 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

CIBC Asset Management Inc raised its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 7.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 38,712 shares of the basic materials company’s stock after purchasing an additional 2,686 shares during the quarter. CIBC Asset Management Inc’s holdings in Air Products and Chemicals were worth $11,526,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of APD. Patten & Patten Inc. TN raised its position in Air Products and Chemicals by 18.7% in the 1st quarter. Patten & Patten Inc. TN now owns 2,940 shares of the basic materials company’s stock valued at $712,000 after purchasing an additional 464 shares during the last quarter. Catalytic Wealth RIA LLC increased its stake in shares of Air Products and Chemicals by 18.5% in the 1st quarter. Catalytic Wealth RIA LLC now owns 1,210 shares of the basic materials company’s stock valued at $293,000 after buying an additional 189 shares during the period. Covestor Ltd increased its stake in shares of Air Products and Chemicals by 28.4% in the 1st quarter. Covestor Ltd now owns 628 shares of the basic materials company’s stock valued at $153,000 after buying an additional 139 shares during the period. Rockport Wealth LLC acquired a new stake in shares of Air Products and Chemicals in the 1st quarter valued at $215,000. Finally, Invesco LLC increased its stake in shares of Air Products and Chemicals by 25.9% in the 1st quarter. Invesco LLC now owns 1,541 shares of the basic materials company’s stock valued at $373,000 after buying an additional 317 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Up 0.4 %

Shares of NYSE APD opened at $317.10 on Friday. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $332.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm has a 50 day moving average price of $305.56 and a two-hundred day moving average price of $279.96. The stock has a market cap of $70.49 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 3.14 and a beta of 0.81.

Analyst Ratings Changes

Several equities research analysts have recently commented on APD shares. The Goldman Sachs Group lifted their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Mizuho lifted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a research note on Friday, October 25th. Finally, BMO Capital Markets lifted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $329.76.

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.