Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 62.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,166 shares of the basic materials company’s stock after selling 5,347 shares during the period. First Horizon Advisors Inc.’s holdings in Air Products and Chemicals were worth $867,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Air Products and Chemicals by 1,696.4% during the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock valued at $142,344,000 after buying an additional 489,350 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of 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 valued at $217,106,000 after purchasing an additional 299,649 shares during the period. International Assets Investment Management LLC lifted its position in shares of 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 in the last quarter. Morgan Stanley boosted its stake in shares of 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 purchasing an additional 235,037 shares during the period. Finally, Truist Financial Corp grew its holdings in Air Products and Chemicals by 36.4% during the 4th quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock valued at $191,687,000 after purchasing an additional 186,894 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $245.87 on Friday. The company has a market cap of $54.66 billion, a PE ratio of 22.19, a P/E/G ratio of 2.66 and a beta of 0.80. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71. The firm has a 50-day simple moving average of $238.22 and a 200 day simple moving average of $254.19. The company has a quick ratio of 1.58, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.74 earnings per share. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.31 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on APD. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America raised their price objective on Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup cut their target price on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $328.00 to $241.00 in a research note on Thursday, February 8th. Finally, TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $277.43.

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.