Bank of America Corp DE Purchases 3,062,157 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Bank of America Corp DE lifted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 129.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,429,147 shares of the basic materials company's stock after purchasing an additional 3,062,157 shares during the quarter. Bank of America Corp DE owned 2.44% of Air Products and Chemicals worth $1,574,670,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in APD. Generali Investments Management Co LLC purchased a new stake in Air Products and Chemicals in the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. increased its holdings in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock worth $30,000 after purchasing an additional 43 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Air Products and Chemicals in the 4th quarter worth $30,000. Financial Life Planners bought a new position in shares of Air Products and Chemicals during the 4th quarter worth $31,000. Finally, WR Wealth Planners LLC lifted its stake in Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after acquiring an additional 31 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $306.00, for a total value of $616,896.00. Following the sale, the insider now owns 3,834 shares of the company's stock, valued at $1,173,204. This trade represents a 34.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurt Lefevere sold 1,500 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total transaction of $474,255.00. Following the completion of the sale, the insider now owns 1,462 shares in the company, valued at approximately $462,240.54. The trade was a 50.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 in the last three months. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Stock Down 1.2 %

Air Products and Chemicals stock traded down $3.15 during midday trading on Wednesday, hitting $264.47. The stock had a trading volume of 1,379,198 shares, compared to its average volume of 1,482,587. The business has a fifty day moving average price of $280.83 and a 200 day moving average price of $302.51. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The stock has a market cap of $58.84 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.85 earnings per share. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Analysts Set New Price Targets

APD has been the subject of a number of recent research reports. Sanford C. Bernstein raised shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price objective for the company in a research note on Friday, January 31st. StockNews.com downgraded Air Products and Chemicals from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. BMO Capital Markets downgraded shares of Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Citigroup decreased their price target on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.38.

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.