Oakview Capital Management L.P. Decreases Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Oakview Capital Management L.P. decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,674 shares of the basic materials company’s stock after selling 1,117 shares during the period. Air Products and Chemicals comprises about 18.9% of Oakview Capital Management L.P.’s investment portfolio, making the stock its biggest position. Oakview Capital Management L.P.’s holdings in Air Products and Chemicals were worth $4,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in APD. Strategy Asset Managers LLC lifted its stake in Air Products and Chemicals by 708.6% in the third quarter. Strategy Asset Managers LLC now owns 9,089 shares of the basic materials company’s stock worth $2,706,000 after purchasing an additional 7,965 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Air Products and Chemicals in the third quarter worth $42,000. West Family Investments Inc. bought a new stake in Air Products and Chemicals in the third quarter worth $240,000. Aberdeen Wealth Management LLC bought a new stake in Air Products and Chemicals in the third quarter worth $238,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Air Products and Chemicals in the third quarter worth $3,667,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

APD has been the subject of several recent analyst reports. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research note on Monday, October 7th. BMO Capital Markets upped their price objective on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $327.73 on Wednesday. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.42. The company has a 50 day simple moving average of $307.69 and a two-hundred day simple moving average of $281.43. The company has a market capitalization of $72.86 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 3.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

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.