Air Products and Chemicals, Inc. (NYSE:APD) Shares Acquired by Ledyard National Bank

Ledyard National Bank boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 19.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,264 shares of the basic materials company’s stock after acquiring an additional 376 shares during the quarter. Ledyard National Bank’s holdings in Air Products and Chemicals were worth $620,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APD. Nordea Investment Management AB increased its position in shares of 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 purchasing an additional 489,350 shares in the last quarter. Envestnet Asset Management Inc. raised 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 buying an additional 299,649 shares during the last quarter. International Assets Investment Management LLC lifted its stake 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 worth $754,920,000 after buying an additional 274,697 shares in the last quarter. Morgan Stanley boosted its position in Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after acquiring an additional 235,037 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Air Products and Chemicals by 36.4% during the 4th quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company’s stock valued at $191,687,000 after acquiring an additional 186,894 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 2.7 %

APD traded down $6.33 on Tuesday, hitting $231.79. 967,673 shares of the company were exchanged, compared to its average volume of 1,707,125. 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 company has a market cap of $51.53 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81. The firm has a 50-day moving average price of $237.37 and a two-hundred day moving average price of $255.01. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.12. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.74 earnings per share. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APD shares. Wolfe Research began coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They set an “outperform” rating and a $279.00 price target for the company. UBS Group cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Citigroup upped their price target on Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Barclays cut their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. Finally, Seaport Res Ptn cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Air Products and Chemicals has a consensus 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.