Air Products & Chemicals, Inc. (NYSE:APD) Stake Lessened by West Oak Capital LLC

West Oak Capital LLC trimmed its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,749 shares of the basic materials company’s stock after selling 165 shares during the quarter. Air Products & Chemicals makes up about 1.5% of West Oak Capital LLC’s investment portfolio, making the stock its 14th largest holding. West Oak Capital LLC’s holdings in Air Products & Chemicals were worth $2,435,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APD. Athena Capital Advisors LLC bought a new stake in shares of Air Products & Chemicals during the fourth quarter valued at approximately $28,000. Old North State Trust LLC boosted its stake in Air Products & Chemicals by 376.1% in the 4th quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock valued at $35,000 after buying an additional 173 shares in the last quarter. Pinnacle Bank acquired a new stake in Air Products & Chemicals in the 4th quarter valued at $38,000. Transamerica Financial Advisors Inc. boosted its stake in Air Products & Chemicals by 617.6% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock valued at $39,000 after buying an additional 210 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in Air Products & Chemicals by 109.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 255 shares of the basic materials company’s stock valued at $41,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

A number of equities analysts have commented on APD shares. Bank of America lowered Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price objective on the stock. in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research raised Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price objective on the stock in a research note on Tuesday, January 8th. Credit Suisse Group boosted their price objective on Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. BMO Capital Markets upped their price target on Air Products & Chemicals from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, KeyCorp upped their price target on Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $205.64.

NYSE APD opened at $199.60 on Friday. The stock has a market capitalization of $43.19 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.85 and a beta of 0.82. The company has a quick ratio of 2.03, a current ratio of 2.21 and a debt-to-equity ratio of 0.30. Air Products & Chemicals, Inc. has a 12 month low of $148.44 and a 12 month high of $201.97.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a return on equity of 15.13% and a net margin of 18.92%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Air Products & Chemicals, Inc. will post 8.18 EPS for the current year.

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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.

Further Reading: What are Institutional Investors?

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

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