Northern Trust Corp Purchases 156,419 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Northern Trust Corp lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,583,156 shares of the basic materials company’s stock after purchasing an additional 156,419 shares during the period. Northern Trust Corp’s holdings in Air Products and Chemicals were worth $1,039,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in Air Products and Chemicals by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 31 shares in the last quarter. Lake Street Advisors Group LLC grew its position in Air Products and Chemicals by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 31 shares in the last quarter. WR Wealth Planners LLC grew its position in Air Products and Chemicals by 40.3% in the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Silver Oak Securities Incorporated grew its position in Air Products and Chemicals by 1.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 32 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Air Products and Chemicals by 3.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 33 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.9 %

APD opened at $269.62 on Tuesday. The company has a 50 day moving average of $286.76 and a 200 day moving average of $304.88. The company has a market cap of $59.98 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.07 and a beta of 0.89. Air Products and Chemicals, Inc. has a 12 month low of $228.81 and a 12 month high of $341.14. 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 posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Analyst Upgrades and Downgrades

APD has been the subject of a number of recent analyst reports. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Citigroup reduced their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Barclays reduced their target price on shares of Air Products and Chemicals from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. Finally, Bank of America downgraded shares of Air Products and Chemicals from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $332.18.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Sean D. Major sold 4,500 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares in the company, valued at $4,502,560.58. This represents a 23.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now owns 719 shares in the company, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,842,604 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

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.