Verity Asset Management Inc. Purchases New Position in Air Products and Chemicals, Inc. (NYSE:APD)

Verity Asset Management Inc. acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,594 shares of the basic materials company’s stock, valued at approximately $772,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals in the 2nd quarter valued at $32,000. Iron Horse Wealth Management LLC raised its holdings in shares of Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position 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 purchasing an additional 136 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in Air Products and Chemicals by 128.8% during the first 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 during the last quarter. Finally, Valued Wealth Advisors LLC grew its position 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 hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 2.0 %

NYSE APD opened at $313.00 on Friday. 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 stock’s 50-day simple moving average is $300.16 and its two-hundred day simple moving average is $276.13. 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 market capitalization of $69.58 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.21 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, November 7th. The basic materials company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.19 billion. Research analysts forecast that Air Products and Chemicals, Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of 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. Citigroup boosted their target price on Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a research note 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. The Goldman Sachs Group upped their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on 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 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.