ZWJ Investment Counsel Inc. Buys 12,925 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

ZWJ Investment Counsel Inc. raised its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 33.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,110 shares of the basic materials company’s stock after purchasing an additional 12,925 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Air Products and Chemicals were worth $15,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. 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 during the period. National Bank of Canada FI boosted its stake in shares of Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after acquiring an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after acquiring an additional 1,564,169 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Air Products and Chemicals by 50.6% during the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after acquiring an additional 520,179 shares during the period. Finally, Scharf Investments LLC bought a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $87,173,000. 81.66% of the stock is currently owned by institutional investors.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $326.71 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $72.63 billion, a PE ratio of 29.49, a P/E/G ratio of 3.87 and a beta of 0.82. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $328.72. The stock has a 50-day moving average price of $287.49 and a two-hundred day moving average price of $267.44.

Air Products and Chemicals (NYSE:APD) last posted 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. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Analysts expect that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APD shares. UBS Group boosted their price target on Air Products and Chemicals from $307.00 to $345.00 and gave the company a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price target for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their target price for the company from $305.00 to $365.00 in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.24.

Air Products and Chemicals Company 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.