OVERSEA CHINESE BANKING Corp Ltd Sells 423 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 25.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,221 shares of the basic materials company’s stock after selling 423 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Air Products and Chemicals were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Sei Investments Co. raised its position in shares of Air Products and Chemicals by 18.0% during the first quarter. Sei Investments Co. now owns 76,476 shares of the basic materials company’s stock worth $18,526,000 after acquiring an additional 11,691 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Air Products and Chemicals in the 1st quarter worth approximately $754,000. HBK Sorce Advisory LLC boosted its stake in shares of Air Products and Chemicals by 245.4% in the 1st quarter. HBK Sorce Advisory LLC now owns 5,202 shares of the basic materials company’s stock valued at $1,260,000 after purchasing an additional 3,696 shares during the last quarter. Blair William & Co. IL increased its position in shares of Air Products and Chemicals by 3.1% during the first quarter. Blair William & Co. IL now owns 81,156 shares of the basic materials company’s stock worth $19,662,000 after buying an additional 2,468 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in Air Products and Chemicals by 11.8% in the first quarter. Orion Portfolio Solutions LLC now owns 34,161 shares of the basic materials company’s stock valued at $8,276,000 after buying an additional 3,614 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APD. The Goldman Sachs Group lifted their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Mizuho lifted their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $305.00 to $365.00 in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $328.18.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $312.76 on Thursday. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $302.98 and a 200-day moving average price of $278.62. The company has a market cap of $69.53 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 3.12 and a beta of 0.81.

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.