CNB Bank Decreases Position in Air Products and Chemicals, Inc. (NYSE:APD)

CNB Bank cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,340 shares of the basic materials company’s stock after selling 193 shares during the period. CNB Bank’s holdings in Air Products and Chemicals were worth $994,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. boosted its holdings in Air Products and Chemicals by 151.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock valued at $6,028,000 after acquiring an additional 14,981 shares during the period. 1832 Asset Management L.P. lifted its position in Air Products and Chemicals by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after purchasing an additional 2,321 shares during the last quarter. Woodstock Corp boosted its stake in shares of Air Products and Chemicals by 6.5% during the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock valued at $11,605,000 after purchasing an additional 2,387 shares during the period. Trilogy Capital Inc. bought a new position in shares of Air Products and Chemicals in the first quarter worth approximately $2,625,000. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of Air Products and Chemicals by 33.8% in the third quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock worth $15,217,000 after buying an additional 12,925 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on APD shares. BMO Capital Markets increased their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. UBS Group increased their price objective on Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Finally, Citigroup lifted their price objective on Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $320.82.

Air Products and Chemicals Stock Up 1.0 %

NYSE:APD opened at $332.10 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $332.17. The company has a market capitalization of $73.83 billion, a PE ratio of 29.97, a P/E/G ratio of 3.87 and a beta of 0.82. The firm’s 50-day moving average price is $289.56 and its 200-day moving average price is $268.68. 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 announced its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.33 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.