Bahl & Gaynor Inc. Lowers Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Bahl & Gaynor Inc. trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,467,674 shares of the basic materials company’s stock after selling 57,410 shares during the period. Air Products and Chemicals comprises approximately 2.4% of Bahl & Gaynor Inc.’s holdings, making the stock its 11th biggest holding. Bahl & Gaynor Inc.’s holdings in Air Products and Chemicals were worth $401,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of APD. Turtle Creek Wealth Advisors LLC purchased a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Roble Belko & Company Inc purchased a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $33,000. Legacy Bridge LLC bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $35,000. Finally, Cetera Trust Company N.A bought a new position in Air Products and Chemicals during the fourth quarter valued at approximately $35,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

NYSE:APD opened at $236.06 on Friday. The stock has a market cap of $52.48 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. The firm’s fifty day simple moving average is $237.14 and its 200 day simple moving average is $255.82. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a quick ratio of 1.58, a current ratio of 1.81 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing the consensus estimate of $3.00 by ($0.18). The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.64 EPS. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on APD. Seaport Res Ptn cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Wolfe Research began coverage on shares of Air Products and Chemicals in a research report on Friday, March 1st. They set an “outperform” rating and a $279.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Air Products and Chemicals from $295.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. BMO Capital Markets cut their target price on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Finally, Wells Fargo & Company cut shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $276.36.

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.