Courier Capital LLC Sells 270 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

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Courier Capital LLC lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 11.9% during the third quarter, Holdings Channel reports. The fund owned 1,995 shares of the basic materials company’s stock after selling 270 shares during the period. Courier Capital LLC’s holdings in Air Products and Chemicals were worth $612,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stack Financial Management Inc acquired a new stake in Air Products and Chemicals during the 2nd quarter worth $23,344,000. Symmetry Partners LLC raised its holdings in shares of Air Products and Chemicals by 2.9% during the 2nd quarter. Symmetry Partners LLC now owns 4,213 shares of the basic materials company’s stock worth $1,017,000 after buying an additional 119 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Air Products and Chemicals by 9.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,421 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 117 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in Air Products and Chemicals by 1.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 8,008 shares of the basic materials company’s stock worth $1,934,000 after purchasing an additional 76 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Air Products and Chemicals by 14.1% in the 2nd quarter. Empirical Finance LLC now owns 1,451 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 179 shares in the last quarter. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on APD. Morgan Stanley lowered their target price on Air Products and Chemicals from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets reduced their price target on Air Products and Chemicals from $364.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, November 12th. Monness Crespi & Hardt lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on Air Products and Chemicals from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, SunTrust Banks upped their price target on Air Products and Chemicals from $295.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $285.50.

Shares of NYSE:APD opened at $264.05 on Tuesday. The business’s 50 day simple moving average is $292.07 and its two-hundred day simple moving average is $272.28. The firm has a market cap of $58.85 billion, a P/E ratio of 31.38, a PEG ratio of 4.27 and a beta of 0.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.32 and a current ratio of 3.59. Air Products and Chemicals, Inc. has a 52-week low of $167.43 and a 52-week high of $327.89.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Monday, November 16th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.02). The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. Air Products and Chemicals had a return on equity of 15.48% and a net margin of 21.30%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.27 EPS. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 9.6 earnings per share for the current fiscal year.

About Air Products and 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.

Further Reading: Trading Ex-Dividend

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

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