AIA Group Ltd Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

AIA Group Ltd reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 34.6% in the 3rd quarter, Holdings Channel reports. The fund owned 823 shares of the basic materials company’s stock after selling 436 shares during the period. AIA Group Ltd’s holdings in Air Products and Chemicals were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals during the 2nd quarter valued at approximately $32,000. Iron Horse Wealth Management LLC grew its position in Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after buying an additional 55 shares during the period. Trifecta Capital Advisors LLC increased its holdings in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Air Products and Chemicals by 128.8% in the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 103 shares during the period. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1,425.0% during the 2nd quarter. Valued Wealth Advisors LLC now owns 183 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 171 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 0.1 %

NYSE APD opened at $312.99 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42. The business’s fifty day simple moving average is $301.56 and its 200-day simple moving average is $276.93. The firm has a market cap of $69.58 billion, a PE ratio of 27.12, a P/E/G ratio of 3.22 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APD shares. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $327.00.

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.