Reston Wealth Management LLC Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Reston Wealth Management LLC bought a new position in Air Products and Chemicals, Inc. (NYSE:APD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 159 shares of the basic materials company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds also recently modified their holdings of APD. Avantax Advisory Services Inc. raised its holdings in Air Products and Chemicals by 151.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after buying an additional 14,981 shares during the period. Forsta AP Fonden raised its holdings in shares of Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after acquiring an additional 5,400 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Air Products and Chemicals by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after acquiring an additional 2,321 shares in the last quarter. Woodstock Corp grew its position in Air Products and Chemicals by 6.5% during the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after purchasing an additional 2,387 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in Air Products and Chemicals by 33.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock valued at $15,217,000 after purchasing an additional 12,925 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on APD. 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 raised Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. Citigroup increased their price target on shares of Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Mizuho raised their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price objective for the company from $295.00 to $364.00 in a research note on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $326.12.

Air Products and Chemicals Stock Down 0.7 %

Shares of APD stock opened at $310.53 on Friday. The stock’s 50 day simple moving average is $297.78 and its 200 day simple moving average is $273.69. 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 debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $69.03 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results 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. The company had revenue of $2.99 billion for 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%. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 12.33 EPS for the current year.

Air Products and Chemicals 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.