Cary Street Partners Investment Advisory LLC Lowers Position in Air Products and Chemicals, Inc. (NYSE:APD)

Cary Street Partners Investment Advisory LLC decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 35.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,989 shares of the basic materials company’s stock after selling 1,621 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Air Products and Chemicals were worth $909,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Air Products and Chemicals by 1,696.4% during the fourth quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company’s stock worth $142,344,000 after buying an additional 489,350 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Air Products and Chemicals by 64.2% in 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 last quarter. International Assets Investment Management LLC grew its position in shares of Air Products and Chemicals by 26,852.1% in the fourth quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company’s stock valued at $754,920,000 after purchasing an additional 274,697 shares during the last quarter. Morgan Stanley grew its position 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 last quarter. Finally, Truist Financial Corp grew its position in shares of Air Products and Chemicals by 36.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $236.34 on Wednesday. The stock has a fifty day moving average price of $237.53 and a 200 day moving average price of $254.67. 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 current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $52.54 billion, a P/E ratio of 22.55, a PEG ratio of 2.62 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the business earned $2.74 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APD. TheStreet cut Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Mizuho cut their price target on Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. BMO Capital Markets cut their price target on Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Barclays cut their price target on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Finally, UBS Group cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $328.00 to $241.00 in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.36.

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.