Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,913 shares of the basic materials company’s stock after selling 366 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Air Products and Chemicals were worth $1,463,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Argonautica Private Wealth Management Inc. raised its position in Air Products and Chemicals by 0.5% in the third quarter. Argonautica Private Wealth Management Inc. now owns 9,695 shares of the basic materials company’s stock valued at $2,886,000 after purchasing an additional 44 shares during the period. Tower Wealth Partners Inc. purchased a new stake in Air Products and Chemicals in the 3rd quarter valued at about $266,000. Farther Finance Advisors LLC lifted its position in Air Products and Chemicals by 8.6% in the third quarter. Farther Finance Advisors LLC now owns 2,605 shares of the basic materials company’s stock valued at $776,000 after buying an additional 207 shares during the last quarter. Silver Coast Investments LLC boosted its stake in Air Products and Chemicals by 14.7% during the third quarter. Silver Coast Investments LLC now owns 981 shares of the basic materials company’s stock worth $292,000 after buying an additional 126 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Air Products and Chemicals by 5.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 4,042 shares of the basic materials company’s stock valued at $1,204,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a report on Friday, October 25th. Citigroup raised their target price on Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company lifted their target price on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $326.12.

Air Products and Chemicals Stock Down 0.4 %

Shares of NYSE APD opened at $309.21 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42. The company has a market capitalization of $68.74 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.28 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. The business has a 50-day moving average of $298.45 and a two-hundred day moving average of $274.55.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.31 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.