Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lifted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 4.5% in the fourth quarter, Holdings Channel reports. The firm owned 3,570 shares of the basic materials company’s stock after acquiring an additional 154 shares during the period. Connecticut Wealth Management LLC’s holdings in Air Products and Chemicals were worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Air Products and Chemicals by 1,696.4% in the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after purchasing an additional 489,350 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Air Products and Chemicals by 64.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 766,076 shares of the basic materials company’s stock worth $217,106,000 after buying an additional 299,649 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Air Products and Chemicals by 26,852.1% in the 4th quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock worth $754,920,000 after acquiring an additional 274,697 shares during the period. Morgan Stanley increased its stake in shares of Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after acquiring an additional 235,037 shares during the period. Finally, Truist Financial Corp raised its holdings in Air Products and Chemicals by 36.4% during the fourth quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock worth $191,687,000 after purchasing an additional 186,894 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Thursday. UBS Group downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. BMO Capital Markets upped their price target on Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, TheStreet cut Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals has an average rating of “Hold” and a consensus target price of $277.43.

Air Products and Chemicals Trading Up 0.9 %

NYSE:APD traded up $2.18 on Friday, reaching $245.87. The stock had a trading volume of 1,559,471 shares, compared to its average volume of 1,590,100. The company has a market cap of $54.66 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.66 and a beta of 0.80. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.58. The firm’s fifty day moving average is $238.22 and its two-hundred day moving average is $253.72.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.15. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.74 earnings per share. Equities analysts expect that Air Products and Chemicals, Inc. will post 12.31 EPS for the current fiscal year.

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.