Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 41.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,074 shares of the basic materials company’s stock after selling 2,922 shares during the period. Red Cedar Investment Management LLC’s holdings in Air Products and Chemicals were worth $1,115,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Roble Belko & Company Inc bought a new stake in Air Products and Chemicals during the 4th quarter valued at $27,000. Stuart Chaussee & Associates Inc. boosted its position 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 during the period. Rakuten Securities Inc. acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $33,000. Finally, Legacy Bridge LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at about $35,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on APD. Wells Fargo & Company cut shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. dropped their target price on Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley cut their target price on Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Wolfe Research began coverage on Air Products and Chemicals in a research report on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. Finally, TD Cowen upped their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Hold” and a consensus target price of $277.43.

Air Products and Chemicals Trading Up 0.9 %

Shares of APD traded up $2.18 during midday trading on Friday, hitting $245.87. The stock had a trading volume of 1,559,471 shares, compared to its average volume of 1,590,100. The business has a 50-day simple moving average of $238.22 and a two-hundred day simple moving average of $254.19. The firm has a market cap of $54.66 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a current ratio of 1.49, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the business posted $2.74 EPS. The company’s revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.31 EPS for the current 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.