Air Products and Chemicals, Inc. (NYSE:APD) Shares Sold by Planning Capital Management Corp

Planning Capital Management Corp cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.6% in the 3rd quarter, Holdings Channel reports. The fund owned 13,282 shares of the basic materials company’s stock after selling 489 shares during the period. Air Products and Chemicals accounts for about 2.6% of Planning Capital Management Corp’s investment portfolio, making the stock its 11th biggest position. Planning Capital Management Corp’s holdings in Air Products and Chemicals were worth $3,954,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Zions Bancorporation N.A. grew its stake in Air Products and Chemicals by 19.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 2,947 shares of the basic materials company’s stock valued at $877,000 after purchasing an additional 480 shares in the last quarter. Summit Asset Management LLC acquired a new stake in shares of Air Products and Chemicals during the third quarter worth approximately $265,000. Schrum Private Wealth Management LLC bought a new stake in shares of Air Products and Chemicals in the third quarter worth $225,000. Pinnacle Financial Partners Inc raised its holdings in Air Products and Chemicals by 149.8% in the third quarter. Pinnacle Financial Partners Inc now owns 37,729 shares of the basic materials company’s stock valued at $11,233,000 after acquiring an additional 22,625 shares in the last quarter. Finally, Mengis Capital Management Inc. grew its holdings in Air Products and Chemicals by 2.7% during the 3rd quarter. Mengis Capital Management Inc. now owns 2,288 shares of the basic materials company’s stock worth $681,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.5 %

APD opened at $312.76 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $332.42. The stock’s 50 day moving average price is $303.74 and its 200 day moving average price is $278.86. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APD shares. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Wells Fargo & Company boosted their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective for the company in a report on Friday, October 25th. The Goldman Sachs Group increased their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their price target for the company from $310.00 to $280.00 in a report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.