Crescent Sterling Ltd. Reduces Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Crescent Sterling Ltd. lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,566 shares of the basic materials company’s stock after selling 95 shares during the period. Air Products and Chemicals makes up approximately 1.9% of Crescent Sterling Ltd.’s investment portfolio, making the stock its 19th largest holding. Crescent Sterling Ltd.’s holdings in Air Products and Chemicals were worth $2,075,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of APD. Capital Research Global Investors lifted its holdings in Air Products and Chemicals by 167.2% in the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after acquiring an additional 4,330,471 shares during the period. Morgan Stanley lifted its holdings in Air Products and Chemicals by 4.6% in the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after acquiring an additional 235,037 shares during the period. Northern Trust Corp lifted its holdings in Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock valued at $1,085,399,000 after acquiring an additional 39,215 shares during the period. Norges Bank acquired a new position in Air Products and Chemicals in the fourth quarter valued at approximately $852,288,000. Finally, Raymond James & Associates lifted its holdings in Air Products and Chemicals by 8.7% in the first quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after acquiring an additional 167,800 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE APD traded down $1.78 during mid-day trading on Tuesday, hitting $236.34. The stock had a trading volume of 3,555,343 shares, compared to its average volume of 1,738,771. The firm’s 50 day moving average is $237.53 and its 200 day moving average is $254.67. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month 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. The stock has a market capitalization of $52.54 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.60 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.12. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.74 EPS. Equities research 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 research analysts have issued reports on the company. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Morgan Stanley reduced their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Barclays reduced their target price on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Seaport Res Ptn downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals has an average rating of “Hold” and an average price target of $276.36.

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.