Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,100 shares of the basic materials company’s stock after acquiring an additional 400 shares during the quarter. Intact Investment Management Inc.’s holdings in Air Products and Chemicals were worth $6,325,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in Air Products and Chemicals by 1,696.4% during the fourth quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock worth $142,344,000 after purchasing an additional 489,350 shares during the period. Envestnet Asset Management Inc. raised its stake in Air Products and Chemicals by 64.2% during the third quarter. Envestnet Asset Management Inc. now owns 766,076 shares of the basic materials company’s stock worth $217,106,000 after purchasing an additional 299,649 shares during the period. International Assets Investment Management LLC raised its stake in Air Products and Chemicals by 26,852.1% during the fourth quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock worth $754,920,000 after purchasing an additional 274,697 shares during the period. Morgan Stanley raised its stake in Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after purchasing an additional 235,037 shares during the period. Finally, Truist Financial Corp raised its stake in Air Products and Chemicals by 36.4% during the fourth quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock worth $191,687,000 after purchasing an additional 186,894 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.4 %

APD traded up $1.00 during trading hours on Friday, reaching $236.08. 1,251,373 shares of the stock traded hands, compared to its average volume of 1,281,333. The firm’s fifty day simple moving average is $237.14 and its two-hundred day simple moving average is $255.82. The company has a market cap of $52.48 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 2.59 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.81 and a quick ratio of 1.58.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. Air Products and Chemicals’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.64 earnings per share. As a group, analysts forecast that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays cut their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Morgan Stanley cut their target price on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Bank of America raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 target price on the stock in a research note on Thursday, February 15th. Finally, UBS Group downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their target price for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Hold” and an average target price of $276.36.

About Air Products and Chemicals

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.