Mantle Ridge LP Takes Position in Air Products and Chemicals, Inc. (NYSE:APD)

Mantle Ridge LP purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,107,517 shares of the basic materials company's stock, valued at approximately $1,191,344,000. Air Products and Chemicals makes up 56.8% of Mantle Ridge LP's portfolio, making the stock its biggest position. Mantle Ridge LP owned 1.85% of Air Products and Chemicals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APD. Czech National Bank lifted its position in shares of Air Products and Chemicals by 6.4% during the 4th quarter. Czech National Bank now owns 48,203 shares of the basic materials company's stock valued at $13,981,000 after acquiring an additional 2,916 shares during the period. Clark & Stuart Inc bought a new position in Air Products and Chemicals in the 4th quarter worth about $4,146,000. Trust Co. of Toledo NA OH grew its holdings in Air Products and Chemicals by 6.8% during the fourth quarter. Trust Co. of Toledo NA OH now owns 9,568 shares of the basic materials company's stock worth $2,775,000 after acquiring an additional 607 shares during the period. Kieckhefer Group LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $1,943,000. Finally, Agate Pass Investment Management LLC increased its stake in shares of Air Products and Chemicals by 1.2% in the fourth quarter. Agate Pass Investment Management LLC now owns 6,984 shares of the basic materials company's stock worth $2,026,000 after acquiring an additional 82 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.7%

Air Products and Chemicals stock opened at $275.81 on Tuesday. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The firm's fifty day moving average price is $278.61 and its 200-day moving average price is $301.06. The stock has a market cap of $61.38 billion, a P/E ratio of 16.02, a PEG ratio of 3.07 and a beta of 0.88.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly 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 business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. The company's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.85 EPS. Equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.88, for a total value of $410,644.00. Following the sale, the insider now directly owns 3,193 shares in the company, valued at $1,008,604.84. The trade was a 28.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Victoria Brifo sold 2,362 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 10,045 shares of the company's stock, valued at approximately $3,172,411.90. This trade represents a 19.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,751 shares of company stock worth $1,812,572 in the last three months. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APD shares. Barclays decreased their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. reaffirmed 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. Bank of America lowered shares of Air Products and Chemicals from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $330.00 to $282.00 in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price objective on Air Products and Chemicals from $365.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group decreased their price objective on Air Products and Chemicals from $335.00 to $324.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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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