Watch Point Trust Co lessened its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,866 shares of the basic materials company’s stock after selling 95 shares during the quarter. Watch Point Trust Co’s holdings in Air Products & Chemicals were worth $1,502,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in APD. 1832 Asset Management L.P. increased its stake in Air Products & Chemicals by 2,002.7% in the 4th quarter. 1832 Asset Management L.P. now owns 353,219 shares of the basic materials company’s stock valued at $56,469,000 after buying an additional 336,421 shares during the period. Truvestments Capital LLC acquired a new position in Air Products & Chemicals in the 1st quarter valued at $79,000. Bfsg LLC acquired a new position in Air Products & Chemicals in the 1st quarter valued at $605,000. PagnatoKarp Partners LLC increased its stake in Air Products & Chemicals by 45.7% in the 1st quarter. PagnatoKarp Partners LLC now owns 3,270 shares of the basic materials company’s stock valued at $628,000 after buying an additional 1,026 shares during the period. Finally, Hayden Royal LLC acquired a new position in Air Products & Chemicals in the 4th quarter valued at $310,000. 87.33% of the stock is owned by institutional investors.
APD has been the topic of several recent research reports. KeyCorp boosted their price objective on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of Air Products & Chemicals from $167.00 to $207.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. Deutsche Bank boosted their target price on shares of Air Products & Chemicals from $182.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Credit Suisse Group boosted their target price on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $209.92.
Air Products & Chemicals (NYSE:APD) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company posted $1.71 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that Air Products & Chemicals, Inc. will post 8.22 EPS for the current fiscal 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.
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