Silvercrest Asset Management Group LLC Sells 196 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Silvercrest Asset Management Group LLC trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,209 shares of the basic materials company’s stock after selling 196 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Air Products and Chemicals were worth $2,961,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after acquiring an additional 207,404 shares during the period. Dodge & Cox raised its position in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company’s stock valued at $1,932,581,000 after acquiring an additional 64,960 shares during the period. Bank of America Corp DE raised its position in shares of Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock valued at $1,574,670,000 after acquiring an additional 3,062,157 shares during the period. Geode Capital Management LLC raised its position in shares of Air Products and Chemicals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock valued at $1,430,354,000 after acquiring an additional 57,314 shares during the period. Finally, Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at approximately $1,191,344,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of Air Products and Chemicals 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 completion of the transaction, the vice president now directly owns 719 shares of the company’s stock, valued at $221,811.50. The trade was a 45.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Lefevere sold 1,500 shares of Air Products and Chemicals stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the transaction, the insider now directly owns 1,462 shares of the company’s stock, valued at approximately $462,240.54. This trade represents a 50.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

NYSE:APD opened at $277.42 on Tuesday. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year 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. The firm has a fifty day simple moving average of $275.64 and a 200 day simple moving average of $299.73. The stock has a market capitalization of $61.74 billion, a PE ratio of 16.11, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share 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 firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $2.85 earnings per share. Air Products and Chemicals’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays dropped their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a report on Friday, February 7th. Wells Fargo & Company dropped their target price on shares of Air Products and Chemicals from $365.00 to $320.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $330.38.

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.