Mattern Capital Management LLC Has $9.84 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Mattern Capital Management LLC grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,037 shares of the basic materials company’s stock after buying an additional 162 shares during the quarter. Mattern Capital Management LLC’s holdings in Air Products and Chemicals were worth $9,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors increased its position in Air Products and Chemicals by 62.3% in the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after purchasing an additional 4,309,040 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in Air Products and Chemicals by 4.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock worth $790,371,000 after purchasing an additional 122,676 shares during the period. Pathway Financial Advisers LLC increased its position in Air Products and Chemicals by 29,954.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the period. Massachusetts Financial Services Co. MA increased its position in Air Products and Chemicals by 127.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after purchasing an additional 1,564,169 shares during the period. Finally, Raymond James & Associates increased its position in Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after purchasing an additional 33,313 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APD. UBS Group lifted their price objective on Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Redburn Atlantic upgraded 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. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Vertical Research upgraded 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. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.12.

Air Products and Chemicals Trading Down 1.3 %

NYSE APD opened at $318.02 on Friday. The stock has a market capitalization of $70.70 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.87 and a beta of 0.82. The stock’s 50 day moving average price is $294.60 and its two-hundred day moving average price is $271.73. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. 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 released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm 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%. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal 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.