Air Products and Chemicals, Inc. (NYSE:APD) Stock Holdings Lessened by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lowered its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,193 shares of the basic materials company’s stock after selling 220 shares during the period. Levin Capital Strategies L.P.’s holdings in Air Products and Chemicals were worth $1,969,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in APD. Heritage Wealth Management LLC bought a new position in shares of Air Products and Chemicals during the fourth quarter worth about $879,000. Robertson Stephens Wealth Management LLC increased its position in Air Products and Chemicals by 11.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,596 shares of the basic materials company’s stock valued at $440,000 after acquiring an additional 167 shares during the period. New York Life Investment Management LLC boosted its position in Air Products and Chemicals by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 34,766 shares of the basic materials company’s stock worth $9,519,000 after acquiring an additional 199 shares during the period. Concord Wealth Partners raised its stake in shares of Air Products and Chemicals by 4.6% during the fourth quarter. Concord Wealth Partners now owns 3,168 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 139 shares in the last quarter. Finally, ICW Investment Advisors LLC increased its stake in Air Products and Chemicals by 5.4% during the 4th quarter. ICW Investment Advisors LLC now owns 4,286 shares of the basic materials company’s stock valued at $1,173,000 after buying an additional 219 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Argus downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Wolfe Research assumed coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 target price for the company. Bank of America raised their price objective on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, TD Cowen lifted their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $277.43.

Air Products and Chemicals Stock Performance

Shares of NYSE APD traded up $6.05 during trading hours on Thursday, reaching $243.54. The stock had a trading volume of 1,214,884 shares, compared to its average volume of 1,733,121. 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 0.77, a current ratio of 1.49 and a quick ratio of 1.58. The business’s fifty day moving average is $237.72 and its two-hundred day moving average is $254.55. The company has a market cap of $54.14 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.60 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the firm posted $2.74 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

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.