Carmel Capital Partners LLC Increases Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Carmel Capital Partners LLC increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 946 shares of the basic materials company’s stock after buying an additional 102 shares during the period. Carmel Capital Partners LLC’s holdings in Air Products and Chemicals were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after acquiring an additional 4,309,040 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Air Products and Chemicals by 4.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock worth $790,371,000 after buying an additional 122,676 shares during the period. Pathway Financial Advisers LLC boosted its stake in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after buying an additional 2,884,581 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Air Products and Chemicals by 127.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after purchasing an additional 1,564,169 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after purchasing an additional 33,313 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $312.94 on Friday. The company has a market cap of $69.57 billion, a PE ratio of 27.12, a P/E/G ratio of 3.21 and a beta of 0.81. The company has a fifty day moving average price of $301.56 and a two-hundred day moving average price of $276.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. 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 released its quarterly earnings data on Thursday, November 7th. The basic materials company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.19 billion. Research analysts expect that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on APD shares. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Barclays lifted their price target on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday. The Goldman Sachs Group boosted their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Vertical Research upgraded 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. Finally, Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their target price for the company from $305.00 to $365.00 in a report on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus target price of $327.00.

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.