Empirical Finance LLC Boosts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Empirical Finance LLC increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 2.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,672 shares of the basic materials company’s stock after buying an additional 167 shares during the quarter. Empirical Finance LLC’s holdings in Air Products and Chemicals were worth $2,284,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in APD. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Air Products and Chemicals in the 3rd quarter valued at approximately $200,000. CIBC Asset Management Inc lifted its holdings in Air Products and Chemicals by 7.5% in the third quarter. CIBC Asset Management Inc now owns 38,712 shares of the basic materials company’s stock valued at $11,526,000 after acquiring an additional 2,686 shares during the last quarter. Intellectus Partners LLC lifted its holdings in Air Products and Chemicals by 22.4% in the third quarter. Intellectus Partners LLC now owns 1,665 shares of the basic materials company’s stock valued at $496,000 after acquiring an additional 305 shares during the last quarter. Impax Asset Management Group plc purchased a new position in Air Products and Chemicals in the third quarter worth approximately $3,234,000. Finally, Oak Harbor Wealth Partners LLC increased its stake in Air Products and Chemicals by 3.3% during the third quarter. Oak Harbor Wealth Partners LLC now owns 6,686 shares of the basic materials company’s stock worth $1,991,000 after acquiring an additional 212 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of APD opened at $317.10 on Friday. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42. The stock has a market capitalization of $70.49 billion, a PE ratio of 18.46, a PEG ratio of 3.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The stock has a 50-day simple moving average of $305.56 and a 200-day simple moving average of $279.66.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. Citigroup lifted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.76.

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.