Cullinan Associates Inc. Boosts Holdings in Air Products & Chemicals, Inc. (APD)

Cullinan Associates Inc. grew its stake in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 51.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,600 shares of the basic materials company’s stock after buying an additional 4,300 shares during the quarter. Cullinan Associates Inc.’s holdings in Air Products & Chemicals were worth $2,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Field & Main Bank acquired a new position in shares of Air Products & Chemicals during the first quarter worth $27,000. Athena Capital Advisors LLC acquired a new position in shares of Air Products & Chemicals during the fourth quarter worth $28,000. Old North State Trust LLC lifted its holdings in shares of Air Products & Chemicals by 376.1% during the fourth quarter. Old North State Trust LLC now owns 219 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 173 shares during the period. Pinnacle Bank acquired a new position in shares of Air Products & Chemicals during the fourth quarter worth $38,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of Air Products & Chemicals by 617.6% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 244 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 210 shares during the period. 87.57% of the stock is currently owned by hedge funds and other institutional investors.

APD has been the topic of a number of recent research reports. Bank of America lowered shares of Air Products & Chemicals from a “neutral” rating to an “underperform” rating and set a $170.00 price target on the stock. in a report on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Air Products & Chemicals from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Tuesday, January 8th. Credit Suisse Group lifted their price target on shares of Air Products & Chemicals from $188.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets lifted their price target on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, KeyCorp lifted their price target on shares of Air Products & Chemicals from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $209.92.

APD stock opened at $207.65 on Friday. The firm has a market capitalization of $45.30 billion, a P/E ratio of 27.87, a PEG ratio of 2.12 and a beta of 0.83. The company has a current ratio of 2.36, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Air Products & Chemicals, Inc. has a 12-month low of $148.44 and a 12-month high of $207.72.

Air Products & Chemicals (NYSE:APD) last released its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Air Products & Chemicals had a net margin of 18.90% and a return on equity of 15.28%. Air Products & Chemicals’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 earnings per share. Equities analysts anticipate that Air Products & Chemicals, Inc. will post 8.22 earnings per share for the current fiscal year.

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Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Read More: Why do earnings reports matter?

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

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