Intech Investment Management LLC Sells 26,009 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Intech Investment Management LLC lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 23.8% in the third quarter, Holdings Channel reports. The firm owned 83,086 shares of the basic materials company’s stock after selling 26,009 shares during the period. Intech Investment Management LLC’s holdings in Air Products and Chemicals were worth $24,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Air Products and Chemicals by 4.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company’s stock worth $790,371,000 after purchasing an additional 122,676 shares during the period. Pathway Financial Advisers LLC boosted its position in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after purchasing an additional 1,564,169 shares during the period. Raymond James & Associates boosted its position in Air Products and Chemicals by 1.7% during the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after purchasing an additional 33,313 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Air Products and Chemicals by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after purchasing an additional 5,140 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $327.85 on Thursday. The business’s fifty day moving average price is $308.70 and its two-hundred day moving average price is $281.76. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.42. The stock has a market capitalization of $72.88 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Analysts Set New Price Targets

APD has been the subject of a number of research analyst reports. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target for the company in a report on Monday, October 7th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. UBS Group upgraded Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target for the company in a report on Monday. BMO Capital Markets upped their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.53.

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.