CIBC Asset Management Inc Purchases 2,686 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

CIBC Asset Management Inc lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,712 shares of the basic materials company's stock after acquiring an additional 2,686 shares during the quarter. CIBC Asset Management Inc's holdings in Air Products and Chemicals were worth $11,526,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CX Institutional increased its stake in shares of Air Products and Chemicals by 2.6% in the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company's stock valued at $400,000 after acquiring an additional 34 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Air Products and Chemicals by 0.3% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company's stock worth $3,452,000 after purchasing an additional 34 shares during the period. Bank of Stockton increased its stake in Air Products and Chemicals by 1.9% in the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company's stock valued at $540,000 after purchasing an additional 34 shares in the last quarter. Cape Investment Advisory Inc. raised its holdings in shares of Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company's stock valued at $906,000 after purchasing an additional 37 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Air Products and Chemicals by 22.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company's stock worth $60,000 after purchasing an additional 37 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APD has been the subject of a number of research analyst reports. Mizuho boosted their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Jefferies Financial Group upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and increased their target price for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Vertical Research raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and set a $336.00 price target for the company in a research report on Monday, October 7th. Finally, Redburn Atlantic upgraded shares of Air Products and Chemicals from a "sell" rating to a "neutral" rating and set a $330.00 price objective on the stock in a report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and an average price target of $329.76.

Air Products and Chemicals Stock Performance

NYSE:APD traded up $1.22 during trading on Friday, reaching $317.10. The company's stock had a trading volume of 1,113,047 shares, compared to its average volume of 1,434,932. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $332.42. The firm has a market cap of $70.49 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The firm has a 50 day moving average of $305.56 and a 200-day moving average of $279.96. 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.