Northcape Wealth Management LLC Decreases Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Northcape Wealth Management LLC lessened its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,817 shares of the basic materials company’s stock after selling 151 shares during the quarter. Northcape Wealth Management LLC’s holdings in Air Products and Chemicals were worth $2,140,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in APD. Morgan Stanley raised its stake in shares of Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after purchasing an additional 235,037 shares in the last quarter. Northern Trust Corp boosted its stake in Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after acquiring an additional 39,215 shares during the period. Raymond James & Associates lifted its stake in Air Products and Chemicals by 3.6% in the fourth quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock valued at $528,877,000 after buying an additional 66,906 shares during the last quarter. FMR LLC grew its position in Air Products and Chemicals by 1.3% in the 3rd quarter. FMR LLC now owns 1,715,055 shares of the basic materials company’s stock worth $486,047,000 after purchasing an additional 21,422 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Air Products and Chemicals by 1.5% during the third quarter. Stifel Financial Corp now owns 1,339,666 shares of the basic materials company’s stock worth $379,680,000 after buying an additional 20,113 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $1.78 during trading on Tuesday, reaching $236.34. The company had a trading volume of 3,555,343 shares, compared to its average volume of 1,738,771. 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 debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. The business’s 50 day moving average price is $237.37 and its 200-day moving average price is $255.01. The stock has a market cap of $52.54 billion, a PE ratio of 22.72, a PEG ratio of 2.60 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.12. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the company earned $2.74 earnings per share. Analysts expect that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wolfe Research initiated coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 target price for the company. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Bank of America upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 target price for the company in a research report on Thursday, February 15th. Morgan Stanley lowered 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 research note on Wednesday, February 7th. Finally, BMO Capital Markets decreased their price objective on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Hold” and an average price target of $276.36.

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.