Kennebec Savings Bank Invests $520,000 in Air Products and Chemicals, Inc. (NYSE:APD)

Kennebec Savings Bank purchased a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,748 shares of the basic materials company's stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Avantax Advisory Services Inc. raised its position in shares of Air Products and Chemicals by 151.3% during the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company's stock worth $6,028,000 after purchasing an additional 14,981 shares during the period. Forsta AP Fonden increased its position in shares of Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company's stock worth $13,607,000 after acquiring an additional 5,400 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Air Products and Chemicals by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company's stock worth $16,355,000 after acquiring an additional 2,321 shares during the last quarter. Woodstock Corp boosted its stake in Air Products and Chemicals by 6.5% during the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company's stock valued at $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its stake in shares of Air Products and Chemicals by 33.8% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company's stock worth $15,217,000 after acquiring an additional 12,925 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and increased their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. The Goldman Sachs Group upped their target price on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Mizuho lifted their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 9th. Citigroup upped their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a "buy" rating in a research note on Monday. Finally, Barclays increased their target price on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $328.18.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded down $1.76 during mid-day trading on Monday, reaching $311.23. The company had a trading volume of 311,125 shares, compared to its average volume of 1,612,988. The company has a 50-day moving average price of $301.56 and a two-hundred day moving average price of $277.53. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a 1-year low of $212.24 and a 1-year high of $332.42. The stock has a market cap of $69.19 billion, a PE ratio of 27.08, a P/E/G ratio of 3.22 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, November 7th. The basic materials company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.19 billion. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.31 earnings per share for the current year.

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.