CNB Bank Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

CNB Bank trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,340 shares of the basic materials company’s stock after selling 193 shares during the quarter. CNB Bank’s holdings in Air Products and Chemicals were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Thompson Investment Management Inc. purchased a new position in Air Products and Chemicals in the first quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals during the 2nd quarter worth $32,000. Hexagon Capital Partners LLC grew its stake in shares of Air Products and Chemicals by 2,250.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 135 shares during the period. Trifecta Capital Advisors LLC increased its holdings in Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 136 shares during the last quarter. Finally, Beacon Capital Management LLC raised its stake in Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 103 shares during the period. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APD shares. BMO Capital Markets lifted their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and reduced their price objective for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Barclays increased their target price on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Finally, StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.82.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $332.10 on Friday. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $332.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $73.83 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 3.87 and a beta of 0.82. The company’s fifty day moving average price is $289.56 and its 200-day moving average price is $268.68.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. On average, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

Air Products and Chemicals 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.