Magnus Financial Group LLC Takes $200,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Magnus Financial Group LLC bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the third quarter, Holdings Channel.com reports. The institutional investor bought 672 shares of the basic materials company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APD. Thompson Investment Management Inc. purchased a new stake in Air Products and Chemicals during the first quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the second quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its position in Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position in Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 136 shares during the last quarter. Finally, OFI Invest Asset Management lifted its position in Air Products and Chemicals by 104.3% during the first quarter. OFI Invest Asset Management now owns 188 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APD has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. The Goldman Sachs Group lifted their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays lifted their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets lifted their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.24.

Air Products and Chemicals Trading Up 1.1 %

NYSE APD opened at $326.71 on Thursday. The company has a market capitalization of $72.63 billion, a PE ratio of 29.49, a P/E/G ratio of 3.87 and a beta of 0.82. The company has a fifty day moving average of $287.49 and a 200 day moving average of $267.44. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $328.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 earnings per share 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.