Verity Asset Management Inc. Makes New $772,000 Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Verity Asset Management Inc. acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,594 shares of the basic materials company’s stock, valued at approximately $772,000.

Other institutional investors have also made changes to their positions in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock worth $3,452,000 after buying an additional 34 shares in the last quarter. CX Institutional increased its position in shares of Air Products and Chemicals by 2.6% in the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after acquiring an additional 34 shares during the last quarter. Bank of Stockton raised its holdings in Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after acquiring an additional 34 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after purchasing an additional 37 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target 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. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. Finally, BMO Capital Markets lifted their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.12.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $313.00 on Friday. The firm has a market capitalization of $69.58 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.21 and a beta of 0.81. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.42. The company has a fifty day moving average of $300.16 and a 200-day moving average of $276.13. 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 (NYSE:APD) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported $3.56 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.19 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.31 EPS for the current 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.