Sumitomo Mitsui Trust Group Inc. Has $180.57 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Sumitomo Mitsui Trust Group Inc. increased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 606,457 shares of the basic materials company’s stock after purchasing an additional 2,413 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Air Products and Chemicals were worth $180,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Capital Research Global Investors boosted its holdings in shares of Air Products and Chemicals by 62.3% during the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock worth $2,720,704,000 after buying an additional 4,309,040 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Air Products and Chemicals by 29,954.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the period. National Bank of Canada FI lifted its position in shares of Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after purchasing an additional 1,737,260 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after purchasing an additional 1,564,169 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Air Products and Chemicals by 1,685.4% in the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company’s stock valued at $249,698,000 after buying an additional 721,671 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.9 %

APD opened at $311.13 on Wednesday. The firm has a market cap of $69.17 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.46 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.10 and a current ratio of 1.52. The firm’s 50-day simple moving average is $302.27 and its 200-day simple moving average is $278.09. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $332.42.

Analysts Set New Price Targets

APD has been the topic of several research analyst reports. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. UBS Group boosted their price objective on shares of Air Products and Chemicals from $307.00 to $345.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their target price for the stock from $310.00 to $280.00 in a research report on Monday, July 22nd. Finally, StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $328.18.

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.