Investment Management Corp of Ontario Raises Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Investment Management Corp of Ontario increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,135 shares of the basic materials company's stock after buying an additional 2,810 shares during the quarter. Investment Management Corp of Ontario's holdings in Air Products and Chemicals were worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. Norges Bank purchased a new position in Air Products and Chemicals during the 4th quarter worth $919,721,000. Bank of America Corp DE grew its stake in Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Air Products and Chemicals during the 4th quarter worth $885,371,000. Capital International Investors purchased a new position in Air Products and Chemicals during the 4th quarter worth $436,636,000. Finally, Orion Portfolio Solutions LLC grew its stake in Air Products and Chemicals by 1,615.5% during 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 last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APD has been the topic of several research analyst reports. Barclays dropped their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. Sanford C. Bernstein upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 price target on the stock 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 note on Friday, February 7th. Finally, Wells Fargo & Company dropped their price target on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $330.38.

Insider Buying and Selling

In related news, VP Victoria Brifo sold 2,362 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $315.82, for a total value of $745,966.84. Following the completion of the transaction, the vice president now owns 10,045 shares of the company's stock, valued at approximately $3,172,411.90. This represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the transaction, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. The trade was a 45.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,751 shares of company stock valued at $1,812,572. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Stock Performance

Shares of APD traded up $4.36 during mid-day trading on Friday, reaching $278.78. The company had a trading volume of 917,999 shares, compared to its average volume of 1,462,230. Air Products and Chemicals, Inc. has a 52-week low of $243.69 and a 52-week high of $341.14. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $62.04 billion, a P/E ratio of 16.19, a PEG ratio of 3.07 and a beta of 0.88. The stock has a 50 day moving average of $275.98 and a two-hundred day moving average of $300.03.

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