Coho Partners Ltd. Sells 27,900 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Coho Partners Ltd. decreased its position in Air Products and Chemicals, Inc. (NYSE:APD) by 11.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,311 shares of the basic materials company’s stock after selling 27,900 shares during the quarter. Air Products and Chemicals accounts for 2.4% of Coho Partners Ltd.’s portfolio, making the stock its 27th largest position. Coho Partners Ltd. owned about 0.10% of Air Products and Chemicals worth $65,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of Air Products and Chemicals by 62.3% in the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after purchasing an additional 4,309,040 shares in the last quarter. National Bank of Canada FI boosted its position in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after buying an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Air Products and Chemicals by 127.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after buying an additional 1,564,169 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Air Products and Chemicals by 29,957.6% in the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock worth $2,138,000,000 after buying an additional 715,686 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Air Products and Chemicals by 50.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after acquiring an additional 520,179 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on APD shares. JPMorgan Chase & Co. lifted their price target on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays increased their price target on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. The Goldman Sachs Group upped their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Mizuho raised their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, Citigroup boosted their price target on Air Products and Chemicals from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.82.

Air Products and Chemicals Stock Performance

Shares of APD opened at $326.62 on Thursday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The stock has a market cap of $72.61 billion, a P/E ratio of 29.48, a P/E/G ratio of 3.87 and a beta of 0.82. The business’s 50 day moving average price is $292.79 and its 200-day moving average price is $270.59.

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