Welch & Forbes LLC Sells 101 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Welch & Forbes LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,782 shares of the basic materials company’s stock after selling 101 shares during the quarter. Welch & Forbes LLC’s holdings in Air Products and Chemicals were worth $10,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $27,000. Roble Belko & Company Inc bought a new position in shares of Air Products and Chemicals in the fourth quarter worth about $27,000. Stuart Chaussee & Associates Inc. grew its stake in shares of Air Products and Chemicals by 257.6% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 85 shares during the period. Rakuten Securities Inc. purchased a new stake in Air Products and Chemicals in the 4th quarter worth approximately $33,000. Finally, Legacy Bridge LLC bought a new stake in Air Products and Chemicals during the 4th quarter worth approximately $35,000. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Stock Up 0.4 %

NYSE:APD traded up $1.05 during mid-day trading on Tuesday, reaching $248.65. The company’s stock had a trading volume of 1,094,280 shares, compared to its average volume of 1,722,390. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71. The stock has a fifty day moving average of $238.93 and a 200-day moving average of $253.28. The firm has a market capitalization of $55.28 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup reduced their price objective on shares of Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Bank of America raised their price target on Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Argus cut Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered their price target on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho dropped their price target on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Hold” and a consensus price target of $277.43.

Air Products and Chemicals Company 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.