Precedent Wealth Partners LLC Increases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Precedent Wealth Partners LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873 shares of the basic materials company’s stock after purchasing an additional 522 shares during the period. Precedent Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in APD. Wellington Management Group LLP purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $1,525,000. NBC Securities Inc. increased its position in Air Products and Chemicals by 223.7% in the first quarter. NBC Securities Inc. now owns 806 shares of the basic materials company’s stock worth $195,000 after buying an additional 557 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Air Products and Chemicals in the first quarter valued at $318,000. Banque Cantonale Vaudoise lifted its position in shares of Air Products and Chemicals by 3.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,872 shares of the basic materials company’s stock valued at $937,000 after buying an additional 113 shares during the last quarter. Finally, Marcum Wealth LLC grew its stake in shares of Air Products and Chemicals by 13.9% during the 1st quarter. Marcum Wealth LLC now owns 1,281 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 156 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price objective for the company from $310.00 to $280.00 in a report on Monday, July 22nd. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a report on Monday, October 7th. UBS Group lifted their price objective on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the company a “neutral” rating in a research note on Tuesday. Mizuho upped their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased 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 report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.82.

Air Products and Chemicals Trading Up 1.0 %

NYSE APD opened at $332.11 on Friday. The stock’s 50-day simple moving average is $289.56 and its two-hundred day simple moving average is $268.48. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.17. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $73.83 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 3.87 and a beta of 0.82.

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

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.