Summit Trail Advisors LLC Sells 594 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Summit Trail Advisors LLC trimmed its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 27.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,544 shares of the basic materials company’s stock after selling 594 shares during the period. Summit Trail Advisors LLC’s holdings in Air Products and Chemicals were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of APD. Morgan Stanley boosted its position in shares of Air Products and Chemicals by 4.6% in the 3rd quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock worth $1,502,717,000 after purchasing an additional 235,037 shares in the last quarter. Northern Trust Corp boosted its holdings in Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after acquiring an additional 39,215 shares in the last quarter. Raymond James & Associates grew its stake in shares of Air Products and Chemicals by 3.6% during the fourth quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock worth $528,877,000 after acquiring an additional 66,906 shares during the last quarter. FMR LLC increased its holdings in shares of Air Products and Chemicals by 1.3% during the third quarter. FMR LLC now owns 1,715,055 shares of the basic materials company’s stock valued at $486,047,000 after acquiring an additional 21,422 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Air Products and Chemicals by 1.5% during the third quarter. Stifel Financial Corp now owns 1,339,666 shares of the basic materials company’s stock valued at $379,680,000 after acquiring an additional 20,113 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Seaport Res Ptn lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. UBS Group lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $328.00 to $241.00 in a research note on Thursday, February 8th. Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Bank of America raised their price objective on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Wolfe Research assumed coverage on Air Products and Chemicals in a research report on Friday, March 1st. They issued an “outperform” rating and a $279.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $277.43.

Air Products and Chemicals Price Performance

NYSE:APD opened at $248.65 on Wednesday. The firm has a market cap of $55.28 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.49 and a quick ratio of 1.31. The company has a 50 day moving average price of $238.93 and a 200-day moving average price of $253.28. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.74 EPS. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.31 EPS for the current year.

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.