Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 879 shares of the basic materials company’s stock after selling 250 shares during the period. Clear Harbor Asset Management LLC’s holdings in Air Products and Chemicals were worth $262,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after acquiring an additional 4,309,040 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Air Products and Chemicals by 4.2% during 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 in the last quarter. Pathway Financial Advisers LLC grew its holdings 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 valued at $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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 valued at $720,597,000 after buying an additional 1,564,169 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after buying an additional 33,313 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

APD has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of 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. Citigroup upped their target price on Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price target for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their price target for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. Finally, Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $326.12.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $318.02 on Monday. The firm has a fifty day simple moving average of $294.60 and a 200-day simple moving average of $271.98. The company has a market capitalization of $70.70 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.42. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77.

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 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 company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Equities research 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.