Eastern Bank Grows Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Eastern Bank increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,607 shares of the basic materials company’s stock after purchasing an additional 4,046 shares during the period. Eastern Bank’s holdings in Air Products and Chemicals were worth $22,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional grew its stake 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 in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Air Products and Chemicals by 0.3% in the third 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 acquiring an additional 34 shares during the last quarter. Cape Investment Advisory Inc. lifted its holdings in shares of Air Products and Chemicals by 1.0% in the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Air Products and Chemicals by 22.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after buying an additional 37 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock valued at $2,814,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE:APD traded down $1.83 during trading hours on Tuesday, reaching $329.73. The stock had a trading volume of 403,514 shares, compared to its average volume of 1,617,431. The stock has a market capitalization of $73.30 billion, a PE ratio of 29.77, a PEG ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company has a 50 day moving average price of $290.72 and a two-hundred day moving average price of $269.55. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on APD shares. Vertical Research raised 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 research report on Monday, October 7th. 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. UBS Group lifted their price objective on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup boosted their price target on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $320.82.

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.