Morton Brown Family Wealth LLC Raises Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Morton Brown Family Wealth LLC grew its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1,100.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,893 shares of the basic materials company’s stock after purchasing an additional 2,652 shares during the period. Morton Brown Family Wealth LLC’s holdings in Air Products and Chemicals were worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors lifted its position in Air Products and Chemicals by 62.3% in the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after buying an additional 4,309,040 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Air Products and Chemicals by 4.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock worth $790,371,000 after acquiring an additional 122,676 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Air Products and Chemicals by 127.3% in the 2nd 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 purchasing an additional 1,564,169 shares during the last quarter. Finally, Raymond James & Associates raised its position in Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after purchasing an additional 33,313 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.4 %

Shares of Air Products and Chemicals stock traded down $1.23 during trading hours on Monday, hitting $316.79. The company had a trading volume of 439,937 shares, compared to its average volume of 1,611,382. The company’s 50-day moving average is $294.60 and its two-hundred day moving average is $271.98. 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 debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $70.42 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82.

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, topping analysts’ consensus estimates of $3.04 by $0.16. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

APD has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Mizuho lifted their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Citigroup raised their price objective on shares of 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. Finally, Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a report on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.12.

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.