Commerce Bank Lowers Position in Air Products and Chemicals, Inc. (NYSE:APD)

Commerce Bank reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,695 shares of the basic materials company’s stock after selling 2,640 shares during the quarter. Commerce Bank’s holdings in Air Products and Chemicals were worth $13,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Strategy Asset Managers LLC increased its position in shares of Air Products and Chemicals by 708.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 9,089 shares of the basic materials company’s stock valued at $2,706,000 after purchasing an additional 7,965 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $42,000. West Family Investments Inc. purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $240,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $238,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Air Products and Chemicals during the 3rd quarter valued at $3,667,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

APD opened at $327.85 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $332.42. The stock has a market capitalization of $72.88 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The stock’s 50 day moving average price is $308.70 and its 200-day moving average price is $281.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APD shares. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research report on Friday, October 25th. Citigroup increased their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays increased their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a research note on Monday. Finally, Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $331.53.

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.