Long Road Investment Counsel LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD – Get Rating) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,475 shares of the basic materials company's stock after acquiring an additional 1,120 shares during the period. Air Products and Chemicals makes up 1.9% of Long Road Investment Counsel LLC's holdings, making the stock its 22nd biggest holding. Long Road Investment Counsel LLC's holdings in Air Products and Chemicals were worth $3,721,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. grew its position in Air Products and Chemicals by 36.3% in the 1st quarter. Invesco Ltd. now owns 1,287,687 shares of the basic materials company's stock worth $321,806,000 after purchasing an additional 342,982 shares in the last quarter. Vanguard Group Inc. boosted its stake in Air Products and Chemicals by 1.7% in the first quarter. Vanguard Group Inc. now owns 19,964,806 shares of the basic materials company's stock valued at $4,989,404,000 after acquiring an additional 326,891 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in Air Products and Chemicals by 37.0% in the first quarter. Ensign Peak Advisors Inc now owns 1,190,693 shares of the basic materials company's stock valued at $297,567,000 after acquiring an additional 321,693 shares during the last quarter. Truist Financial Corp boosted its stake in Air Products and Chemicals by 187.0% in the second quarter. Truist Financial Corp now owns 463,054 shares of the basic materials company's stock valued at $111,355,000 after acquiring an additional 301,713 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Air Products and Chemicals by 1.8% in the first quarter. BlackRock Inc. now owns 14,555,663 shares of the basic materials company's stock valued at $3,637,608,000 after acquiring an additional 259,383 shares during the last quarter. 82.68% of the stock is owned by institutional investors.
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Wall Street Analysts Forecast Growth
A number of analysts recently commented on APD shares. StockNews.com started coverage on shares of Air Products and Chemicals in a research note on Wednesday, October 12th. They set a "hold" rating on the stock. Bank of America dropped their price target on shares of Air Products and Chemicals from $272.00 to $271.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 13th. Seaport Res Ptn upgraded shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating in a research note on Thursday, October 13th. Barclays upped their price target on shares of Air Products and Chemicals from $275.00 to $295.00 and gave the company an "equal weight" rating in a research note on Monday, August 8th. Finally, Mizuho dropped their price target on shares of Air Products and Chemicals from $312.00 to $286.00 and set a "buy" rating on the stock in a research note on Thursday, July 7th. Six research analysts have rated the stock with a hold rating and ten 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 a consensus target price of $290.22.
Air Products and Chemicals Price Performance
Shares of NYSE:APD traded up $1.85 during trading on Friday, reaching $240.17. The company had a trading volume of 11,886 shares, compared to its average volume of 964,796. The company has a fifty day moving average of $248.41 and a two-hundred day moving average of $244.56. The stock has a market capitalization of $53.27 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.48 and a beta of 0.79. Air Products and Chemicals, Inc. has a 12 month low of $216.24 and a 12 month high of $316.39. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.48.
Air Products and Chemicals (NYSE:APD – Get Rating) last released its earnings results on Thursday, August 4th. The basic materials company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.61 by $0.01. Air Products and Chemicals had a net margin of 19.08% and a return on equity of 15.61%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the firm earned $2.31 EPS. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 10.28 earnings per share for the current year.
Air Products and Chemicals Company Profile
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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.
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