Pallas Capital Advisors LLC Decreases Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Pallas Capital Advisors LLC reduced its position in Air Products and Chemicals, Inc. (NYSE:APD) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,705 shares of the basic materials company’s stock after selling 173 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Air Products and Chemicals were worth $871,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in APD. Meeder Asset Management Inc. acquired a new position in Air Products and Chemicals during the 2nd quarter valued at about $32,000. Iron Horse Wealth Management LLC grew its stake in shares of Air Products and Chemicals by 88.7% during the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in shares of Air Products and Chemicals by 1,700.0% during the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 136 shares in the last quarter. Beacon Capital Management LLC raised its position 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 valued at $44,000 after purchasing an additional 103 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its stake in Air Products and Chemicals by 1,425.0% in the 2nd quarter. Valued Wealth Advisors LLC now owns 183 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 171 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on APD. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research note on Monday, October 7th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $305.00 to $365.00 in a research note on Monday, October 7th. The Goldman Sachs Group raised their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, UBS Group upped their target price on Air Products and Chemicals from $307.00 to $345.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.12.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock opened at $312.93 on Thursday. The firm has a market cap of $69.57 billion, a PE ratio of 28.24, a P/E/G ratio of 3.87 and a beta of 0.82. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.42. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $297.06 and a 200 day moving average price of $273.43.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current fiscal year.

About Air Products and Chemicals

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.