Baker Tilly Wealth Management LLC Increases Position in Air Products and Chemicals, Inc. (NYSE:APD)

Baker Tilly Wealth Management LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 16.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,161 shares of the basic materials company’s stock after purchasing an additional 313 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Air Products and Chemicals were worth $643,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. L. Roy Papp & Associates LLP purchased a new position in shares of Air Products and Chemicals during the third quarter valued at approximately $220,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of Air Products and Chemicals in the third quarter valued at approximately $362,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Air Products and Chemicals by 24.8% in the third quarter. J.W. Cole Advisors Inc. now owns 8,524 shares of the basic materials company’s stock valued at $2,538,000 after purchasing an additional 1,694 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Air Products and Chemicals by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 25,834 shares of the basic materials company’s stock valued at $7,691,000 after purchasing an additional 1,660 shares during the period. Finally, Valley National Advisers Inc. boosted its holdings in shares of Air Products and Chemicals by 8.8% in the third quarter. Valley National Advisers Inc. now owns 8,764 shares of the basic materials company’s stock valued at $2,609,000 after purchasing an additional 706 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and boosted their price target for the company from $295.00 to $364.00 in a report on Monday, October 7th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a report on Friday. The Goldman Sachs Group boosted their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets boosted their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.12.

Air Products and Chemicals Price Performance

NYSE APD opened at $318.02 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The stock’s fifty day moving average price is $294.60 and its 200 day moving average price is $271.98. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42. The company has a market cap of $70.70 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.04 billion. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 12.33 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.