Matrix Trust Co Trims Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Matrix Trust Co lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 2.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,124 shares of the basic materials company’s stock after selling 153 shares during the period. Air Products and Chemicals makes up approximately 0.5% of Matrix Trust Co’s portfolio, making the stock its 27th largest position. Matrix Trust Co’s holdings in Air Products and Chemicals were worth $1,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APD. Cape Cod Five Cents Savings Bank purchased a new position in shares of Air Products and Chemicals during the 3rd quarter worth $376,000. Eos Management L.P. lifted its stake in shares of Air Products and Chemicals by 26.2% during the 4th quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after purchasing an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA lifted its stake in shares of Air Products and Chemicals by 3.6% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after purchasing an additional 2,285 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth $1,177,000. Finally, Bellwether Advisors LLC purchased a new position in shares of Air Products and Chemicals during the 3rd quarter worth $501,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.4 %

NYSE APD traded up $1.00 during trading hours on Friday, hitting $236.08. The company 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 fifty-two week low of $212.24 and a fifty-two week high of $307.71. The company has a market capitalization of $52.48 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.59 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58. The firm’s 50 day moving average is $237.14 and its 200 day moving average is $255.82.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APD. BMO Capital Markets reduced their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Mizuho dropped their price objective on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. TD Cowen dropped their price objective on Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Finally, Barclays dropped their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $276.36.

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.