693 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the 3rd quarter, Holdings Channel reports. The fund bought 693 shares of the basic materials company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Forsta AP Fonden boosted its stake in shares of Air Products and Chemicals by 13.4% during the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after buying an additional 5,400 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Air Products and Chemicals by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after purchasing an additional 2,321 shares during the last quarter. Jensen Investment Management Inc. raised its stake in shares of Air Products and Chemicals by 65.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock valued at $3,921,000 after purchasing an additional 5,190 shares in the last quarter. Woodstock Corp lifted its position in shares of Air Products and Chemicals by 6.5% during the third quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Finally, Impax Asset Management Group plc acquired a new position in Air Products and Chemicals in the third quarter worth about $3,234,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on APD. Barclays increased their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Jefferies Financial Group raised shares of 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 report on Monday, October 7th. The Goldman Sachs Group increased their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, 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 research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Trading Up 3.4 %

Air Products and Chemicals stock opened at $327.90 on Tuesday. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $332.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The stock has a market capitalization of $72.90 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The firm has a 50 day simple moving average of $306.64 and a 200-day simple moving average of $280.86.

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.