Malaga Cove Capital LLC Raises Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Malaga Cove Capital LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 10.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,055 shares of the basic materials company’s stock after purchasing an additional 100 shares during the period. Malaga Cove Capital LLC’s holdings in Air Products and Chemicals were worth $314,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals during the 2nd quarter valued at approximately $32,000. Iron Horse Wealth Management LLC grew its stake in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in shares of 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 acquiring an additional 136 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 103 shares in the last quarter. Finally, Valued Wealth Advisors LLC grew its position in 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 valued at $47,000 after purchasing an additional 171 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

APD opened at $306.73 on Thursday. The company’s 50 day moving average is $300.16 and its 200 day moving average is $276.13. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company has a market cap of $68.19 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 3.25 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.42.

Analyst Ratings Changes

Several brokerages have issued reports on APD. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Monday, October 7th. Citigroup boosted their price objective on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their target price for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Barclays boosted their price target on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company increased their price objective on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.12.

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.