Headlands Technologies LLC Acquires 1,238 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Headlands Technologies LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 104.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,423 shares of the basic materials company’s stock after buying an additional 1,238 shares during the period. Headlands Technologies LLC’s holdings in Air Products and Chemicals were worth $663,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $27,000. Roble Belko & Company Inc bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $27,000. Rakuten Securities Inc. bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $33,000. Legacy Bridge LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $35,000. Finally, Cetera Trust Company N.A bought a new position in shares of Air Products and Chemicals in the fourth quarter valued at $35,000. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley cut their price target on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Seaport Res Ptn downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Citigroup raised their price target on Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Finally, Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock traded up $1.00 during midday trading on Friday, reaching $236.08. The company’s stock had a trading volume of 1,251,373 shares, compared to its average volume of 1,281,333. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $237.14 and a 200-day moving average price of $255.82. The stock has a market cap of $52.48 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Monday, February 5th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the firm earned $2.64 EPS. The business’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

About Air Products and Chemicals

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.