NorthRock Partners LLC Grows Stake in Air Products and Chemicals, Inc. (NYSE:APD)

NorthRock Partners LLC grew its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 110.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,993 shares of the basic materials company’s stock after acquiring an additional 1,571 shares during the period. NorthRock Partners LLC’s holdings in Air Products and Chemicals were worth $868,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Mantle Ridge LP purchased a new stake in Air Products and Chemicals in the fourth quarter worth $1,191,344,000. Norges Bank bought a new position in shares of Air Products and Chemicals during the 4th quarter worth $919,721,000. Bank of America Corp DE increased its holdings in 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 worth $1,574,670,000 after acquiring an additional 3,062,157 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Air Products and Chemicals in the 4th quarter valued at about $885,371,000. Finally, Capital International Investors purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $436,636,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other news, insider Kurt Lefevere sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the completion of the transaction, the insider now directly owns 1,462 shares in the company, valued at approximately $462,240.54. This represents a 50.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wilbur Mok sold 1,300 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the transaction, the insider now owns 3,193 shares in the company, valued at $1,008,604.84. This trade represents a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,751 shares of company stock valued at $1,812,572 over the last 90 days. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Trading Up 1.2%

Shares of APD opened at $274.66 on Friday. 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 market capitalization of $61.12 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $276.37 and its 200 day simple moving average is $300.37.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Air Products and Chemicals’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $2.85 EPS. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on APD. 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 for the company in a research note on Friday, January 31st. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. BMO Capital Markets cut shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $330.00 to $282.00 in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.38.

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.