Crestline Management LP Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Crestline Management LP acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,759 shares of the basic materials company’s stock, valued at approximately $1,090,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APD. Parvin Asset Management LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at approximately $715,000. SG Americas Securities LLC grew its stake in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock worth $3,914,000 after acquiring an additional 6,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after acquiring an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Air Products and Chemicals during the 4th quarter worth $7,269,000. Finally, Diversify Wealth Management LLC increased its holdings in Air Products and Chemicals by 88.2% during the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after purchasing an additional 4,916 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $269.60 on Friday. The stock has a market cap of $60.00 billion, a P/E ratio of 15.66, a P/E/G ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The stock has a 50 day moving average of $280.02 and a two-hundred day moving average of $302.08. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $2.85 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

APD has been the subject of several recent research reports. Citigroup decreased their price objective on Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Bank of America cut shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. UBS Group dropped their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average price target of $330.38.

Insider Buying and Selling at Air Products and Chemicals

In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $307.32, for a total transaction of $993,565.56. Following the completion of the transaction, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Francesco Maione sold 2,016 shares of Air Products and Chemicals stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the completion of the sale, the insider now directly owns 3,834 shares in the company, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock valued at $3,423,034 in the last ninety days. Insiders own 0.41% of the company’s stock.

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.