Smith Salley Wealth Management Has $1.86 Million Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Smith Salley Wealth Management lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,252 shares of the basic materials company’s stock after purchasing an additional 109 shares during the period. Smith Salley Wealth Management’s holdings in Air Products and Chemicals were worth $1,862,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in Air Products and Chemicals in the 2nd quarter valued at $32,000. Hexagon Capital Partners LLC boosted its holdings in Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in 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 purchasing an additional 55 shares during the period. Trifecta Capital Advisors LLC raised its holdings in Air Products and Chemicals by 1,700.0% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in Air Products and Chemicals by 128.8% during the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 103 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Trading Down 1.3 %

Shares of NYSE:APD opened at $318.02 on Friday. The company’s fifty day simple moving average is $294.60 and its 200 day simple moving average is $271.73. The firm has a market cap of $70.70 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.87 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $332.42.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. As a group, research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on APD shares. Citigroup lifted their price target on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Mizuho upped their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.12.

Air Products and Chemicals Company 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.