Oppenheimer & Co. Inc. Lowers Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Oppenheimer & Co. Inc. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,249 shares of the basic materials company’s stock after selling 977 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Air Products and Chemicals were worth $9,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APD. Iron Horse Wealth Management LLC raised its holdings in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the period. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals in the second quarter valued at approximately $32,000. 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 buying an additional 136 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Air Products and Chemicals during the third quarter valued at approximately $47,000. Finally, Beacon Capital Management LLC grew its stake in Air Products and Chemicals by 128.8% during the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of APD stock opened at $312.76 on Thursday. The stock has a market capitalization of $69.53 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 3.12 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $332.42. The company’s 50-day simple moving average is $302.98 and its 200-day simple moving average is $278.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Analyst Upgrades and Downgrades

APD has been the topic of several recent research reports. UBS Group lifted their target price on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Mizuho boosted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Barclays upped their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $328.18.

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.