Simmons Bank Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Simmons Bank cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,226 shares of the basic materials company’s stock after selling 1,318 shares during the period. Simmons Bank’s holdings in Air Products and Chemicals were worth $5,538,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Air Products and Chemicals by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,166,522 shares of the basic materials company’s stock valued at $319,394,000 after buying an additional 22,846 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals by 10.5% during the 4th quarter. Apollon Wealth Management LLC now owns 9,960 shares of the basic materials company’s stock valued at $2,727,000 after acquiring an additional 949 shares in the last quarter. Machina Capital S.A.S. lifted its holdings in shares of Air Products and Chemicals by 83.9% during the 4th quarter. Machina Capital S.A.S. now owns 4,597 shares of the basic materials company’s stock valued at $1,259,000 after acquiring an additional 2,097 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Air Products and Chemicals by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 17,264 shares of the basic materials company’s stock valued at $4,727,000 after acquiring an additional 323 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Air Products and Chemicals by 7.2% during the 4th quarter. Private Advisor Group LLC now owns 24,849 shares of the basic materials company’s stock valued at $6,803,000 after acquiring an additional 1,670 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE APD traded down $2.64 on Wednesday, hitting $246.01. The stock had a trading volume of 516,367 shares, compared to its average volume of 1,708,154. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. The stock has a market cap of $54.69 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 2.66 and a beta of 0.80. The company’s 50-day moving average is $238.93 and its two-hundred day moving average is $253.28.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.70 by $0.15. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. Air Products and Chemicals’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.74 EPS. On average, analysts expect that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Argus lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Bank of America lifted their target price on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Cowen boosted their price objective on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wolfe Research began coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. Finally, Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $277.43.

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.