Zimmer Partners LP Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

Zimmer Partners LP acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the basic materials company's stock, valued at approximately $14,502,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company's stock valued at $6,231,560,000 after purchasing an additional 207,404 shares during the last quarter. Dodge & Cox lifted its stake in shares of Air Products and Chemicals by 1.0% in the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company's stock valued at $1,932,581,000 after purchasing an additional 64,960 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock valued at $1,574,670,000 after purchasing an additional 3,062,157 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Air Products and Chemicals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company's stock valued at $1,430,354,000 after purchasing an additional 57,314 shares during the last quarter. Finally, Mantle Ridge LP acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at $1,191,344,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Walter L. Nelson sold 589 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares of the company's stock, valued at approximately $221,811.50. This trade represents a 45.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Lefevere sold 1,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $316.17, for a total value of $474,255.00. Following the sale, the insider now directly owns 1,462 shares of the company's stock, valued at $462,240.54. The trade was a 50.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Stock Down 0.5%

Shares of NYSE APD opened at $277.42 on Tuesday. The stock has a market cap of $61.74 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The business has a 50-day moving average price of $275.64 and a 200 day moving average price of $299.73.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on APD. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. UBS Group cut their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price objective on the stock in a report on Friday, January 31st. BMO Capital Markets downgraded Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Finally, StockNews.com downgraded Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of "Moderate Buy" and an average price target of $330.38.

Air Products and Chemicals Company 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.

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