Brightworth Purchases New Position in Air Products and Chemicals, Inc. (APD)

Brightworth purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 37,682 shares of the basic materials company’s stock, valued at approximately $5,698,000. Air Products and Chemicals comprises 1.4% of Brightworth’s holdings, making the stock its 18th largest holding.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Air Products and Chemicals by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,493,224 shares of the basic materials company’s stock valued at $2,502,580,000 after buying an additional 604,454 shares during the last quarter. BlackRock Inc. increased its stake in shares of Air Products and Chemicals by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,281,219 shares of the basic materials company’s stock worth $2,186,132,000 after purchasing an additional 1,131,879 shares during the last quarter. State Street Corp increased its stake in shares of Air Products and Chemicals by 2.8% during the 2nd quarter. State Street Corp now owns 10,590,428 shares of the basic materials company’s stock worth $1,515,127,000 after purchasing an additional 291,150 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Air Products and Chemicals by 6.8% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,651,446 shares of the basic materials company’s stock worth $1,305,744,000 after purchasing an additional 611,672 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Air Products and Chemicals by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 3,541,101 shares of the basic materials company’s stock worth $506,589,000 after purchasing an additional 419,593 shares during the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.

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Several research analysts have recently weighed in on APD shares. Argus boosted their price objective on shares of Air Products and Chemicals from $159.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Susquehanna Bancshares Inc upgraded shares of Air Products and Chemicals from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $165.00 to $175.00 in a research note on Thursday, September 14th. KeyCorp restated a “buy” rating and set a $161.00 price objective on shares of Air Products and Chemicals in a research note on Friday, September 8th. Vertical Research restated a “hold” rating and set a $148.00 price objective (up from $146.00) on shares of Air Products and Chemicals in a research note on Tuesday, September 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Air Products and Chemicals has an average rating of “Hold” and an average price target of $162.33.

Shares of Air Products and Chemicals, Inc. (APD) traded up 0.31% during trading on Wednesday, hitting $159.92. 335,727 shares of the stock traded hands. The company has a market cap of $34.86 billion, a P/E ratio of 12.01 and a beta of 1.26. Air Products and Chemicals, Inc. has a 1-year low of $131.80 and a 1-year high of $162.86. The stock has a 50-day moving average of $153.06 and a 200 day moving average of $146.53.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, October 26th. The basic materials company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.12 billion. Air Products and Chemicals had a net margin of 36.65% and a return on equity of 15.25%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business earned $2.01 earnings per share. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post $7.01 EPS for the current fiscal year.

About Air Products and Chemicals

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.

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

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