Assetmark Inc. Boosts Holdings in Air Products and Chemicals, Inc. $APD

Assetmark Inc. boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 37.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 114,299 shares of the basic materials company’s stock after purchasing an additional 31,199 shares during the period. Assetmark Inc.’s holdings in Air Products and Chemicals were worth $32,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company’s stock valued at $945,000 after acquiring an additional 412 shares during the period. Bison Wealth LLC purchased a new position in shares of Air Products and Chemicals during the 4th quarter valued at approximately $245,000. Novem Group acquired a new position in shares of Air Products and Chemicals in the 1st quarter valued at $432,000. Revisor Wealth Management LLC boosted its holdings in Air Products and Chemicals by 108.0% during the first quarter. Revisor Wealth Management LLC now owns 1,552 shares of the basic materials company’s stock worth $458,000 after buying an additional 806 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in Air Products and Chemicals by 226.6% during the first quarter. Teacher Retirement System of Texas now owns 42,830 shares of the basic materials company’s stock valued at $12,631,000 after buying an additional 29,717 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APD. Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Argus raised Air Products and Chemicals from a “hold” rating to a “buy” rating in a report on Friday, September 12th. Mizuho increased their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Wall Street Zen raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Air Products and Chemicals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $330.00.

Air Products and Chemicals Trading Down 1.6%

APD stock opened at $244.46 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14. The business’s 50-day moving average is $274.81 and its 200 day moving average is $278.79. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The stock has a market cap of $54.41 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 5.16 and a beta of 0.83.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 earnings per share. On average, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the transaction, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.