NorthCrest Asset Manangement LLC Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

NorthCrest Asset Manangement LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,754 shares of the basic materials company’s stock after selling 13,351 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Air Products and Chemicals were worth $7,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in Air Products and Chemicals by 151.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after acquiring an additional 14,981 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Air Products and Chemicals by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after acquiring an additional 2,321 shares during the period. Woodstock Corp raised its holdings in shares of Air Products and Chemicals by 6.5% during the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock valued at $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Trilogy Capital Inc. bought a new position in Air Products and Chemicals during the first quarter valued at approximately $2,625,000. Finally, ZWJ Investment Counsel Inc. boosted its holdings in Air Products and Chemicals by 33.8% in the third quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock worth $15,217,000 after purchasing an additional 12,925 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on APD shares. UBS Group increased their price target on Air Products and Chemicals from $307.00 to $345.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $305.00 to $365.00 in a research report on Monday, October 7th. Wells Fargo & Company upped their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, Citigroup lifted their price objective on Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.12.

Air Products and Chemicals Price Performance

NYSE APD traded down $4.08 on Friday, reaching $318.02. The company had a trading volume of 1,294,777 shares, compared to its average volume of 1,617,042. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $332.42. 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 firm’s 50 day moving average price is $293.76 and its 200 day moving average price is $270.95. The stock has a market capitalization of $70.70 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The business had revenue of $2.99 billion during 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%. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share 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.