1ST Source Bank Sells 397 Shares of Air Products and Chemicals, Inc. (APD)

1ST Source Bank lowered its position in Air Products and Chemicals, Inc. (NYSE:APD) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,973 shares of the basic materials company’s stock after selling 397 shares during the quarter. 1ST Source Bank’s holdings in Air Products and Chemicals were worth $2,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Patten Group Inc. grew its stake in Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 28 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake in Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 6 shares in the last quarter. IMS Capital Management purchased a new position in Air Products and Chemicals in the second quarter valued at about $129,000. Armbruster Capital Management Inc. grew its stake in Air Products and Chemicals by 13.5% in the second quarter. Armbruster Capital Management Inc. now owns 908 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 108 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its stake in shares of Air Products and Chemicals by 8.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 931 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.

Several analysts have recently issued reports on the company. Deutsche Bank AG upped their price target on Air Products and Chemicals from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group upped their price target on Air Products and Chemicals from $158.00 to $173.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays PLC upped their price target on Air Products and Chemicals from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday. SunTrust Banks, Inc. reiterated a “buy” rating and set a $175.00 price target on shares of Air Products and Chemicals in a research note on Friday. Finally, Citigroup Inc. upped their price target on Air Products and Chemicals from $172.30 to $185.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Air Products and Chemicals has a consensus rating of “Hold” and an average price target of $162.33.

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Shares of Air Products and Chemicals, Inc. (APD) traded down 0.23% during mid-day trading on Tuesday, reaching $159.58. The company had a trading volume of 200,018 shares. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 11.99 and a beta of 1.26. The firm’s 50-day moving average is $152.77 and its 200 day moving average is $146.44. Air Products and Chemicals, Inc. has a 12 month low of $131.12 and a 12 month high of $162.86.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.12 billion. Air Products and Chemicals had a return on equity of 15.25% and a net margin of 36.65%. Air Products and Chemicals’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 earnings per share. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post $6.99 earnings per share for the current year.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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

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