Royal Fund Management LLC Takes $992,000 Position in Air Products and Chemicals, Inc. (NYSE:APD)

Royal Fund Management LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,624 shares of the basic materials company's stock, valued at approximately $992,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Nordea Investment Management AB boosted its position in shares of Air Products and Chemicals by 1,696.4% during the 4th quarter. Nordea Investment Management AB now owns 518,197 shares of the basic materials company's stock worth $142,344,000 after purchasing an additional 489,350 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Air Products and Chemicals by 64.2% in the third quarter. Envestnet Asset Management Inc. now owns 766,076 shares of the basic materials company's stock worth $217,106,000 after acquiring an additional 299,649 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Air Products and Chemicals by 26,852.1% during the fourth quarter. International Assets Investment Management LLC now owns 275,720 shares of the basic materials company's stock worth $754,920,000 after acquiring an additional 274,697 shares during the period. Morgan Stanley raised its stake in shares of Air Products and Chemicals by 4.6% in the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company's stock valued at $1,502,717,000 after acquiring an additional 235,037 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Air Products and Chemicals by 36.4% during the 4th quarter. Truist Financial Corp now owns 700,099 shares of the basic materials company's stock worth $191,687,000 after purchasing an additional 186,894 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

NYSE APD traded up $2.18 on Friday, reaching $245.87. The stock had a trading volume of 1,559,471 shares, compared to its average volume of 1,590,100. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.49. The stock has a market cap of $54.66 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. The business's 50-day moving average price is $238.22 and its 200 day moving average price is $254.19. Air Products and Chemicals, Inc. has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the firm posted $2.74 EPS. Air Products and Chemicals's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts expect that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

APD has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an "overweight" rating for the company in a research report on Wednesday. Bank of America increased their price objective on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday. Seaport Res Ptn cut shares of Air Products and Chemicals from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 6th. Morgan Stanley dropped their target price on Air Products and Chemicals from $285.00 to $240.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 7th. Finally, TD Cowen lifted their price target on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $277.43.

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.