Metis Global Partners LLC Sells 1,646 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Metis Global Partners LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,185 shares of the basic materials company’s stock after selling 1,646 shares during the period. Metis Global Partners LLC’s holdings in Air Products and Chemicals were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APD. Morgan Stanley boosted its position in shares of Air Products and Chemicals by 4.6% during the 3rd 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 during the last quarter. Northern Trust Corp grew its stake in Air Products and Chemicals by 1.0% in the 3rd quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after buying an additional 39,215 shares in the last quarter. Raymond James & Associates grew its stake in Air Products and Chemicals by 3.6% in the 4th quarter. Raymond James & Associates now owns 1,931,619 shares of the basic materials company’s stock worth $528,877,000 after buying an additional 66,906 shares in the last quarter. FMR LLC increased its holdings in shares of Air Products and Chemicals by 1.3% in the 3rd quarter. FMR LLC now owns 1,715,055 shares of the basic materials company’s stock worth $486,047,000 after buying an additional 21,422 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Air Products and Chemicals by 1.5% during the 3rd quarter. Stifel Financial Corp now owns 1,339,666 shares of the basic materials company’s stock valued at $379,680,000 after buying an additional 20,113 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $248.65 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm has a market cap of $55.28 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.66 and a beta of 0.80. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $307.71. The firm has a 50-day moving average of $238.93 and a 200-day moving average of $253.28.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company downgraded Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a research report on Monday, February 5th. Argus downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. UBS Group cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. JPMorgan Chase & Co. cut their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, TheStreet lowered shares of Air Products and Chemicals from a “b” rating to a “c+” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Hold” and a consensus target price of $277.43.

Air Products and Chemicals 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.