Ledyard National Bank Lowers Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Ledyard National Bank decreased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,172 shares of the basic materials company’s stock after selling 102 shares during the quarter. Ledyard National Bank’s holdings in Air Products and Chemicals were worth $349,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in APD. Thompson Investment Management Inc. bought a new stake in shares of Air Products and Chemicals in the 1st quarter worth $27,000. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the 2nd quarter worth $32,000. Hexagon Capital Partners LLC increased its holdings in shares of Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 135 shares in the last quarter. Trifecta Capital Advisors LLC increased its holdings in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 136 shares in the last quarter. Finally, Beacon Capital Management LLC increased its holdings in shares of Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on APD shares. JPMorgan Chase & Co. lifted their target price on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Mizuho lifted their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $320.82.

Air Products and Chemicals Price Performance

NYSE APD opened at $330.38 on Wednesday. The company has a market capitalization of $73.45 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The business’s fifty day moving average is $291.79 and its 200 day moving average is $270.20. 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 released 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. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share 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.