Air Products and Chemicals, Inc. (NYSE:APD) is ING Groep NV’s 9th Largest Position

ING Groep NV grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 240.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,023,433 shares of the basic materials company’s stock after buying an additional 723,019 shares during the period. Air Products and Chemicals makes up 1.8% of ING Groep NV’s portfolio, making the stock its 9th largest holding. ING Groep NV’s holdings in Air Products and Chemicals were worth $304,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Air Products and Chemicals by 0.3% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after acquiring an additional 34 shares during the last quarter. CX Institutional increased its position in Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock worth $400,000 after purchasing an additional 34 shares during the last quarter. Bank of Stockton increased its position in Air Products and Chemicals by 1.9% during the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock worth $540,000 after purchasing an additional 34 shares during the last quarter. Cape Investment Advisory Inc. boosted its stake in shares of Air Products and Chemicals by 1.0% in the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock valued at $906,000 after purchasing an additional 37 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

APD has been the topic of several recent research reports. Mizuho boosted their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. UBS Group increased their target price on Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their price target for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $329.76.

Air Products and Chemicals Stock Performance

Shares of APD stock traded up $1.50 during mid-day trading on Thursday, hitting $314.39. The stock had a trading volume of 188,541 shares, compared to its average volume of 1,608,261. The firm has a market cap of $69.89 billion, a PE ratio of 18.31, a PEG ratio of 3.12 and a beta of 0.81. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company’s 50-day simple moving average is $303.74 and its 200-day simple moving average is $278.86.

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.