SeaCrest Wealth Management LLC Sells 167 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

SeaCrest Wealth Management LLC reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,957 shares of the basic materials company’s stock after selling 167 shares during the period. SeaCrest Wealth Management LLC’s holdings in Air Products and Chemicals were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thompson Investment Management Inc. acquired a new stake in Air Products and Chemicals in the 1st quarter valued at $27,000. Meeder Asset Management Inc. bought a new stake in Air Products and Chemicals during the second quarter worth about $32,000. Hexagon Capital Partners LLC boosted its position in Air Products and Chemicals by 2,250.0% during the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 135 shares during the last quarter. Trifecta Capital Advisors LLC grew its stake in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares in the last quarter. Finally, OFI Invest Asset Management increased its position in shares of Air Products and Chemicals by 104.3% during the 1st quarter. OFI Invest Asset Management now owns 188 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 96 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and decreased their target price for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. BMO Capital Markets boosted their price target on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.24.

Air Products and Chemicals Stock Performance

NYSE APD opened at $326.71 on Thursday. The firm has a 50-day moving average price of $287.49 and a two-hundred day moving average price of $267.44. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $328.72. The company has a market capitalization of $72.63 billion, a P/E ratio of 29.49, a P/E/G ratio of 3.87 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

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.