Air Products & Chemicals, Inc. (APD) Stake Lessened by Welch & Forbes LLC

Welch & Forbes LLC lowered its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,881 shares of the basic materials company’s stock after selling 1,156 shares during the period. Welch & Forbes LLC’s holdings in Air Products & Chemicals were worth $9,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in APD. OMERS ADMINISTRATION Corp bought a new stake in Air Products & Chemicals in the fourth quarter worth $164,779,000. Deutsche Bank AG increased its position in Air Products & Chemicals by 96.6% in the fourth quarter. Deutsche Bank AG now owns 1,599,411 shares of the basic materials company’s stock worth $255,979,000 after purchasing an additional 785,837 shares during the last quarter. Norges Bank bought a new stake in Air Products & Chemicals in the fourth quarter worth $95,285,000. Bessemer Group Inc. increased its position in Air Products & Chemicals by 21,215.8% in the fourth quarter. Bessemer Group Inc. now owns 597,483 shares of the basic materials company’s stock worth $95,627,000 after purchasing an additional 594,680 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its position in Air Products & Chemicals by 56.4% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,274,149 shares of the basic materials company’s stock worth $203,928,000 after purchasing an additional 459,587 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Air Products & Chemicals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. UBS Group lifted their price objective on shares of Air Products & Chemicals from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Thursday. Vertical Research lowered shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Air Products & Chemicals from $167.00 to $207.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BMO Capital Markets lifted their price objective on shares of Air Products & Chemicals from $215.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Air Products & Chemicals currently has a consensus rating of “Buy” and an average price target of $209.92.

Shares of APD traded up $1.00 during trading hours on Monday, reaching $203.57. 927,500 shares of the company traded hands, compared to its average volume of 1,145,433. The firm has a market capitalization of $44.49 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.90 and a beta of 0.82. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $204.17. The company has a current ratio of 2.36, a quick ratio of 2.03 and a debt-to-equity ratio of 0.29.

Air Products & Chemicals (NYSE:APD) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 earnings per share. Analysts predict that Air Products & Chemicals, Inc. will post 8.21 earnings per share for the current year.

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About Air Products & Chemicals

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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