Chase Investment Counsel Corp Acquires Shares of 1,342 Air Products and Chemicals, Inc. (NYSE:APD)

Chase Investment Counsel Corp acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,342 shares of the basic materials company’s stock, valued at approximately $367,000.

Several other institutional investors also recently bought and sold shares of APD. Cape Cod Five Cents Savings Bank acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth $376,000. Eos Management L.P. grew its stake in shares of Air Products and Chemicals by 26.2% during the 4th quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after purchasing an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA grew its stake in shares of Air Products and Chemicals by 3.6% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after purchasing an additional 2,285 shares during the period. BKM Wealth Management LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth $1,177,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth $501,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on APD shares. Morgan Stanley lowered their price target on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Bank of America raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $264.00 price objective on the stock in a research note on Thursday, February 15th. Wolfe Research started coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They issued an “outperform” rating and a $279.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Air Products and Chemicals from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of “Hold” and an average target price of $276.36.

Air Products and Chemicals Price Performance

NYSE:APD opened at $238.12 on Tuesday. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average is $237.37 and its two-hundred day moving average is $255.01. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.12. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.74 EPS. Research analysts expect that Air Products and Chemicals, Inc. will post 12.38 EPS for the current year.

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.