NovaPoint Capital LLC Grows Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

NovaPoint Capital LLC grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,323 shares of the basic materials company’s stock after purchasing an additional 366 shares during the quarter. NovaPoint Capital LLC’s holdings in Air Products and Chemicals were worth $3,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in APD. Thompson Investment Management Inc. acquired a new stake in shares of Air Products and Chemicals during the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals during the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC increased its holdings 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 worth $34,000 after buying an additional 135 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in shares of Air Products and Chemicals by 1,700.0% during 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 last quarter. Finally, OFI Invest Asset Management increased its holdings in shares of Air Products and Chemicals by 104.3% during the 1st quarter. OFI Invest Asset Management now owns 188 shares of the basic materials company’s stock worth $42,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $332.11 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $332.17. The stock has a market cap of $73.83 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a fifty day moving average price of $289.56 and a 200 day moving average price of $268.48.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results 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. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The firm 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 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Mizuho lifted their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.