Merit Financial Group LLC Has $398,000 Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Merit Financial Group LLC boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 23.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454 shares of the basic materials company’s stock after buying an additional 273 shares during the quarter. Merit Financial Group LLC’s holdings in Air Products and Chemicals were worth $398,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of APD. Turtle Creek Wealth Advisors LLC acquired a new position in Air Products and Chemicals in the fourth quarter worth $27,000. Roble Belko & Company Inc acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $27,000. Stuart Chaussee & Associates Inc. lifted its stake in shares of Air Products and Chemicals by 257.6% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 85 shares during the period. Rakuten Securities Inc. bought a new stake in Air Products and Chemicals in the fourth quarter valued at about $33,000. Finally, Legacy Bridge LLC bought a new stake in Air Products and Chemicals in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on APD shares. Bank of America upped their price objective on Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley dropped their price objective on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Seaport Res Ptn downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Wolfe Research initiated coverage on Air Products and Chemicals in a report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Hold” and a consensus price target of $277.43.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $248.65 on Wednesday. The stock has a 50 day moving average price of $238.93 and a 200 day moving average price of $253.28. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The stock has a market capitalization of $55.28 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80.

Air Products and Chemicals (NYSE:APD) last issued its quarterly 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. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the firm posted $2.74 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. Analysts predict that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current fiscal year.

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.