West Michigan Advisors LLC Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

West Michigan Advisors LLC decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 32.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,651 shares of the basic materials company’s stock after selling 2,687 shares during the period. West Michigan Advisors LLC’s holdings in Air Products and Chemicals were worth $1,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals during the 2nd quarter worth about $32,000. Hexagon Capital Partners LLC grew its stake in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after buying an additional 135 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC raised its position in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after buying an additional 136 shares during the period. Finally, Beacon Capital Management LLC boosted its holdings in Air Products and Chemicals by 128.8% in the first quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on APD shares. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company increased their price objective on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Finally, Barclays raised their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average target price of $326.12.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $322.01 on Friday. The firm has a market cap of $71.58 billion, a P/E ratio of 29.06, a P/E/G ratio of 3.87 and a beta of 0.82. The firm has a fifty day moving average of $292.79 and a two-hundred day moving average of $270.59. 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 1-year low of $212.24 and a 1-year high of $332.42.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals 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.