Iron Horse Wealth Management LLC Purchases 55 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Iron Horse Wealth Management LLC lifted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 88.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117 shares of the basic materials company’s stock after buying an additional 55 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Air Products and Chemicals were worth $35,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after purchasing an additional 4,309,040 shares during the period. National Bank of Canada FI lifted its stake in shares of Air Products and Chemicals by 2,931.0% in the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after purchasing an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA raised its position in Air Products and Chemicals by 127.3% in 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 acquiring an additional 1,564,169 shares during the period. Clearbridge Investments LLC increased its position in Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock worth $374,841,000 after buying an additional 520,179 shares in the last quarter. Finally, Scharf Investments LLC purchased a new position in Air Products and Chemicals during the first quarter valued at approximately $87,173,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on APD shares. The Goldman Sachs Group raised their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets upped their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price target for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Finally, Citigroup increased their price target on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $320.82.

Air Products and Chemicals Stock Performance

NYSE APD traded down $4.53 on Wednesday, reaching $325.84. 269,806 shares of the company’s stock traded hands, compared to its average volume of 1,614,971. The firm has a market cap of $72.44 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 3.87 and a beta of 0.82. The stock has a 50 day moving average price of $291.79 and a 200-day moving average price of $270.20. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.42.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. Equities research analysts predict that Air Products and Chemicals, Inc. will post 12.33 EPS 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.