Stonegate Investment Group LLC Has $2.08 Million Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Stonegate Investment Group LLC increased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 4.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,969 shares of the basic materials company’s stock after acquiring an additional 283 shares during the period. Stonegate Investment Group LLC’s holdings in Air Products and Chemicals were worth $2,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals during the 1st quarter worth $27,000. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at about $32,000. Hexagon Capital Partners LLC grew its position in shares of Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after buying an additional 135 shares during the last quarter. Trifecta Capital Advisors LLC grew its position in shares of Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares during the last quarter. Finally, Beacon Capital Management LLC grew its position in shares of Air Products and Chemicals by 128.8% in the 1st quarter. Beacon Capital Management LLC now owns 183 shares of the basic materials company’s stock valued at $44,000 after buying an additional 103 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Citigroup raised their price target on Air Products and Chemicals from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company raised their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $320.24.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock traded up $0.42 during trading on Friday, hitting $329.19. 174,329 shares of the company’s stock traded hands, compared to its average volume of 1,622,624. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $330.00. The stock has a market capitalization of $73.18 billion, a P/E ratio of 29.68, a PEG ratio of 3.87 and a beta of 0.82. The business has a 50-day simple moving average of $288.49 and a 200-day simple moving average of $267.87.

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