Comerica Bank Has $44.19 Million Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Comerica Bank decreased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,362 shares of the basic materials company's stock after selling 1,988 shares during the period. Comerica Bank owned 0.07% of Air Products and Chemicals worth $44,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth approximately $919,721,000. Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $885,371,000. Capital International Investors bought a new stake in shares of Air Products and Chemicals during the 4th quarter valued at $436,636,000. Orion Portfolio Solutions LLC lifted its stake in shares of Air Products and Chemicals by 1,615.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 530,005 shares of the basic materials company's stock valued at $153,723,000 after purchasing an additional 499,110 shares during the period. Finally, Senator Investment Group LP bought a new position in shares of Air Products and Chemicals in the 4th quarter worth $133,551,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Up 2.0 %

NYSE:APD traded up $5.38 during trading hours on Friday, reaching $277.54. 1,446,932 shares of the stock were exchanged, compared to its average volume of 1,482,872. The stock has a market cap of $61.75 billion, a PE ratio of 16.12, a PEG ratio of 3.07 and a beta of 0.88. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The firm has a 50 day moving average of $283.60 and a 200 day moving average of $303.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APD. Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price on the stock in a report on Friday, January 31st. UBS Group reduced their price objective on shares of Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a research note on Friday. Citigroup lowered their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.38.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total transaction of $181,706.50. Following the sale, the vice president now directly owns 719 shares of the company's stock, valued at approximately $221,811.50. This represents a 45.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares of the company's stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,500 shares of company stock worth $4,842,604. Corporate insiders own 0.41% of the company's stock.

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.