New England Research & Management Inc. purchased a new position in Air Products & Chemicals, Inc. (NYSE:APD) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,200 shares of the basic materials company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bailard Inc. raised its position in shares of Air Products & Chemicals by 2.0% in the 2nd quarter. Bailard Inc. now owns 2,347 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 45 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC increased its position in Air Products & Chemicals by 3.2% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,549 shares of the basic materials company’s stock valued at $351,000 after buying an additional 48 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its position in Air Products & Chemicals by 1.7% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 2,945 shares of the basic materials company’s stock valued at $653,000 after buying an additional 48 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Air Products & Chemicals by 1.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,090 shares of the basic materials company’s stock valued at $686,000 after buying an additional 50 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its position in Air Products & Chemicals by 8.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 719 shares of the basic materials company’s stock valued at $163,000 after buying an additional 53 shares in the last quarter. 85.26% of the stock is owned by hedge funds and other institutional investors.

Shares of APD stock traded up $6.29 during mid-day trading on Friday, reaching $233.87. The stock had a trading volume of 1,809,915 shares, compared to its average volume of 1,085,902. The business’s fifty day moving average is $216.25 and its 200-day moving average is $218.23. The company has a current ratio of 2.28, a quick ratio of 2.09 and a debt-to-equity ratio of 0.28. The firm has a market cap of $47.72 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.91 and a beta of 0.84. Air Products & Chemicals, Inc. has a 1-year low of $149.64 and a 1-year high of $234.61.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.02). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Air Products & Chemicals had a net margin of 19.14% and a return on equity of 15.42%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.00 earnings per share. On average, analysts forecast that Air Products & Chemicals, Inc. will post 8.24 earnings per share for the current year.

Several brokerages recently issued reports on APD. Morgan Stanley upped their target price on Air Products & Chemicals from $168.00 to $230.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $254.00 target price (up from $214.00) on shares of Air Products & Chemicals in a research report on Friday, July 26th. Deutsche Bank reaffirmed a “buy” rating and set a $260.00 target price (up from $250.00) on shares of Air Products & Chemicals in a research report on Friday. They noted that the move was a valuation call. Barclays upped their target price on Air Products & Chemicals from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Citigroup set a $260.00 target price on Air Products & Chemicals and gave the company a “buy” rating in a research report on Monday, July 15th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Air Products & Chemicals currently has an average rating of “Hold” and an average price target of $238.47.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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