Cigna Investments Inc. New Sells 53 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Cigna Investments Inc. New trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,286 shares of the basic materials company’s stock after selling 53 shares during the quarter. Cigna Investments Inc. New’s holdings in Air Products and Chemicals were worth $681,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of APD. Meeder Asset Management Inc. bought a new stake in Air Products and Chemicals in the second quarter valued at $32,000. Iron Horse Wealth Management LLC boosted its stake in shares of Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Trifecta Capital Advisors LLC increased its position in shares of Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares during the period. Beacon Capital Management LLC raised its stake in Air Products and Chemicals by 128.8% in the first 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 in the last quarter. Finally, Valued Wealth Advisors LLC lifted its holdings in Air Products and Chemicals by 1,425.0% in the second quarter. Valued Wealth Advisors LLC now owns 183 shares of the basic materials company’s stock worth $47,000 after buying an additional 171 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

APD opened at $309.21 on Friday. The company’s 50-day simple moving average is $298.45 and its two-hundred day simple moving average is $274.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $68.74 billion, a P/E ratio of 26.79, a P/E/G ratio of 3.28 and a beta of 0.82. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $332.42.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.04 billion. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price on the stock in a report on Monday, October 7th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $295.00 to $364.00 in a report on Monday, October 7th. BMO Capital Markets raised their price objective on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Finally, Mizuho lifted their price target on shares of 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. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $326.12.

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.