King Luther Capital Management Corp Decreases Position in Air Products and Chemicals, Inc. (NYSE:APD)

King Luther Capital Management Corp trimmed its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,381 shares of the basic materials company's stock after selling 15,995 shares during the quarter. King Luther Capital Management Corp owned 0.06% of Air Products and Chemicals worth $38,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Air Products and Chemicals by 4.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,062,859 shares of the basic materials company's stock worth $790,371,000 after purchasing an additional 122,676 shares during the period. Pathway Financial Advisers LLC raised its position in Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock worth $861,722,000 after buying an additional 2,884,581 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company's stock valued at $720,597,000 after acquiring an additional 1,564,169 shares during the period. Raymond James & Associates boosted its holdings in shares of Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company's stock valued at $608,312,000 after acquiring an additional 33,313 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Air Products and Chemicals by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company's stock worth $525,085,000 after acquiring an additional 5,140 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $327.85 on Thursday. The firm has a 50-day simple moving average of $308.70 and a 200-day simple moving average of $281.76. 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 stock has a market capitalization of $72.88 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. Air Products and Chemicals, Inc. has a 52 week low of $212.24 and a 52 week high of $332.42.

Analyst Upgrades and Downgrades

APD has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an "equal weight" rating in a report on Friday, October 11th. Jefferies Financial Group upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating and upped their target price for the stock from $295.00 to $364.00 in a research note on Monday, October 7th. Vertical Research upgraded 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. Mizuho upped their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 9th. Finally, UBS Group raised shares of Air Products and Chemicals from a "neutral" rating to a "buy" rating and set a $375.00 target price for the company in a report on Monday. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $331.53.

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.

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