Cadence Capital Management LLC Sells 1,560 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

Share on StockTwits

Cadence Capital Management LLC decreased its position in Air Products & Chemicals, Inc. (NYSE:APD) by 19.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,511 shares of the basic materials company’s stock after selling 1,560 shares during the period. Cadence Capital Management LLC’s holdings in Air Products & Chemicals were worth $1,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of APD. Atlantic Union Bankshares Corp boosted its stake in Air Products & Chemicals by 1.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 20,388 shares of the basic materials company’s stock valued at $6,073,000 after purchasing an additional 275 shares during the period. Granite Investment Advisors LLC boosted its stake in Air Products & Chemicals by 3.7% in the 3rd quarter. Granite Investment Advisors LLC now owns 11,921 shares of the basic materials company’s stock valued at $3,551,000 after purchasing an additional 420 shares during the period. IFM Investors Pty Ltd lifted its position in shares of Air Products & Chemicals by 13.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 17,834 shares of the basic materials company’s stock valued at $5,312,000 after acquiring an additional 2,149 shares during the period. Surevest LLC lifted its position in shares of Air Products & Chemicals by 1.6% during the 3rd quarter. Surevest LLC now owns 13,593 shares of the basic materials company’s stock valued at $4,049,000 after acquiring an additional 217 shares during the period. Finally, Gilman Hill Asset Management LLC bought a new stake in shares of Air Products & Chemicals during the 3rd quarter valued at $307,000. Institutional investors and hedge funds own 83.32% of the company’s stock.

NYSE:APD traded up $2.18 on Friday, hitting $298.14. The stock had a trading volume of 1,398,650 shares, compared to its average volume of 1,206,404. Air Products & Chemicals, Inc. has a 52 week low of $167.43 and a 52 week high of $310.73. The company has a quick ratio of 3.32, a current ratio of 3.48 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average is $297.40 and its 200 day moving average is $260.10. The company has a market cap of $65.86 billion, a PE ratio of 34.79, a P/E/G ratio of 3.50 and a beta of 0.85.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.03. Air Products & Chemicals had a return on equity of 15.96% and a net margin of 21.58%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $2.17 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities analysts predict that Air Products & Chemicals, Inc. will post 8.4 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $305.00 target price for the company. in a research report on Monday, September 28th. SunTrust Banks upped their target price on Air Products & Chemicals from $295.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, July 24th. They noted that the move was a valuation call. Monness Crespi & Hardt downgraded Air Products & Chemicals from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. Credit Suisse Group upped their target price on Air Products & Chemicals from $254.00 to $317.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Air Products & Chemicals from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $292.38.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

Featured Story: Day Trading

Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

Receive News & Ratings for Air Products & Chemicals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products & Chemicals and related companies with MarketBeat.com's FREE daily email newsletter.