Goelzer Investment Management Inc. Raises Stake in Air Products & Chemicals, Inc. (NYSE:APD)

Goelzer Investment Management Inc. lifted its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 0.3% in the third quarter, Holdings Channel reports. The firm owned 33,183 shares of the basic materials company’s stock after purchasing an additional 107 shares during the period. Goelzer Investment Management Inc.’s holdings in Air Products & Chemicals were worth $7,362,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bailard Inc. raised its position in shares of Air Products & Chemicals by 2.0% in the 2nd quarter. Bailard Inc. now owns 2,347 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 45 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its position in shares of Air Products & Chemicals by 3.2% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,549 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 48 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Air Products & Chemicals by 1.7% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 2,945 shares of the basic materials company’s stock valued at $653,000 after acquiring an additional 48 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Air Products & Chemicals by 1.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,090 shares of the basic materials company’s stock valued at $686,000 after acquiring an additional 50 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Air Products & Chemicals by 8.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 719 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 85.09% of the company’s stock.

Several equities research analysts recently issued reports on APD shares. ValuEngine lowered Air Products & Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. UBS Group dropped their price target on Air Products & Chemicals from $232.00 to $230.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Air Products & Chemicals in a research report on Monday, August 19th. Credit Suisse Group increased their target price on Air Products & Chemicals from $221.00 to $238.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Co increased their target price on Air Products & Chemicals from $240.00 to $250.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Air Products & Chemicals presently has an average rating of “Hold” and a consensus target price of $241.53.

Shares of NYSE:APD traded up $0.51 on Wednesday, hitting $237.52. The company’s stock had a trading volume of 1,175,393 shares, compared to its average volume of 1,085,191. Air Products & Chemicals, Inc. has a 12 month low of $149.64 and a 12 month high of $237.74. The company has a market capitalization of $51.53 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84. The stock’s 50-day moving average is $217.04 and its two-hundred day moving average is $218.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.32 and a current ratio of 2.54.

Air Products & Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $2.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by ($0.02). Air Products & Chemicals had a return on equity of 15.88% and a net margin of 19.73%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the company posted $2.00 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Air Products & Chemicals, Inc. will post 9.46 earnings per share for the current fiscal year.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Further Reading: What does an outperform rating mean?

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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