Beck Bode LLC Makes New $1.50 Million Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Beck Bode LLC bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,492 shares of the basic materials company’s stock, valued at approximately $1,504,000.

Other hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Roble Belko & Company Inc acquired a new stake in Air Products and Chemicals during the 4th quarter worth $27,000. Stuart Chaussee & Associates Inc. raised its stake in Air Products and Chemicals by 257.6% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 118 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 85 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Air Products and Chemicals during the 4th quarter worth $33,000. Finally, Legacy Bridge LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth $35,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on APD. Wolfe Research began coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Seaport Res Ptn downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Citigroup raised their price objective on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company downgraded shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded down $1.78 during midday trading on Tuesday, hitting $236.34. The stock had a trading volume of 3,555,343 shares, compared to its average volume of 1,738,771. The company has a market capitalization of $52.54 billion, a PE ratio of 22.55, a P/E/G ratio of 2.60 and a beta of 0.81. The stock has a 50 day moving average price of $237.53 and a two-hundred day moving average price of $254.67. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $307.71.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.12. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.74 earnings per share. As a group, equities analysts predict that Air Products and Chemicals, Inc. will post 12.38 earnings per share for the current fiscal year.

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.