Air Products and Chemicals, Inc. (NYSE:APD) Position Reduced by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.1% during the third quarter, HoldingsChannel reports. The fund owned 20,800 shares of the basic materials company’s stock after selling 900 shares during the quarter. Air Products and Chemicals comprises approximately 0.9% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 25th largest position. Adams Natural Resources Fund Inc.’s holdings in Air Products and Chemicals were worth $6,193,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in APD. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals in the 2nd quarter worth about $32,000. Hexagon Capital Partners LLC lifted its position in shares of Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after buying an additional 135 shares during the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after buying an additional 136 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in shares of Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after buying an additional 103 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APD. JPMorgan Chase & Co. raised their price target on shares of 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. BMO Capital Markets increased their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a report on Monday, October 7th. The Goldman Sachs Group increased their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $326.12.

Air Products and Chemicals Stock Performance

Shares of APD opened at $315.30 on Wednesday. The firm’s 50 day moving average is $296.32 and its 200-day moving average is $273.15. The stock has a market capitalization of $70.09 billion, a P/E ratio of 28.46, a P/E/G ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.42.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.04 billion. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

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.