Watch Point Trust Co Reduces Position in Air Products & Chemicals, Inc. (NYSE:APD)

Watch Point Trust Co trimmed its holdings in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 12.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,345 shares of the basic materials company’s stock after selling 900 shares during the quarter. Watch Point Trust Co’s holdings in Air Products & Chemicals were worth $1,408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Air Products & Chemicals by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 19,674,476 shares of the basic materials company’s stock worth $4,453,711,000 after purchasing an additional 411,472 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Air Products & Chemicals by 2.8% in the second quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock valued at $3,809,950,000 after purchasing an additional 454,016 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Air Products & Chemicals by 1.7% in the second quarter. Wells Fargo & Company MN now owns 4,009,741 shares of the basic materials company’s stock valued at $907,685,000 after purchasing an additional 66,225 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Air Products & Chemicals by 0.3% in the second quarter. Northern Trust Corp now owns 3,271,182 shares of the basic materials company’s stock valued at $740,498,000 after purchasing an additional 9,084 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Air Products & Chemicals by 2.6% in the second quarter. Invesco Ltd. now owns 2,107,983 shares of the basic materials company’s stock valued at $477,183,000 after purchasing an additional 54,289 shares during the last quarter. 85.26% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on APD shares. JPMorgan Chase & Co. increased their target price on shares of Air Products & Chemicals from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Co increased their target price on shares of Air Products & Chemicals from $240.00 to $250.00 and gave the company a “market perform” rating in a report on Friday. ValuEngine downgraded shares of Air Products & Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Sanford C. Bernstein downgraded shares of Air Products & Chemicals from an “outperform” rating to a “market perform” rating and set a $225.00 target price for the company. in a report on Thursday, July 18th. Finally, Credit Suisse Group increased their target price on shares of Air Products & Chemicals from $221.00 to $238.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $240.13.

APD traded up $6.29 on Friday, reaching $233.87. The company had a trading volume of 1,800,237 shares, compared to its average volume of 1,085,902. The business has a 50 day simple moving average of $216.25 and a 200 day simple moving average of $218.23. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 1.91 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.09 and a current ratio of 2.28. Air Products & Chemicals, Inc. has a 52-week low of $149.64 and a 52-week high of $234.61.

Air Products & Chemicals (NYSE:APD) last announced its earnings results on Thursday, November 7th. The basic materials company reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.02). The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 earnings per share. As a group, equities research analysts predict that Air Products & Chemicals, Inc. will post 8.24 EPS for the current fiscal year.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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