OVERSEA CHINESE BANKING Corp Ltd Cuts Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD) by 25.7% in the third quarter, HoldingsChannel reports. The firm owned 1,221 shares of the basic materials company’s stock after selling 423 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Air Products and Chemicals were worth $364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional boosted its stake in shares of Air Products and Chemicals by 2.6% during the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 34 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Air Products and Chemicals by 0.3% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after buying an additional 34 shares during the last quarter. Bank of Stockton boosted its position in Air Products and Chemicals by 1.9% during the 3rd quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after buying an additional 34 shares during the period. Cape Investment Advisory Inc. grew its holdings in Air Products and Chemicals by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Shares of APD opened at $312.76 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The stock has a market cap of $69.53 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.12 and a beta of 0.81. The business’s 50 day moving average price is $302.98 and its 200-day moving average price is $278.62. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42.

Analysts Set New Price Targets

A number of analysts have recently weighed in on APD shares. Mizuho increased their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. BMO Capital Markets boosted their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a research note on Friday, October 25th. Finally, Vertical Research raised 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 report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $328.18.

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.