Air Products and Chemicals, Inc. (NYSE:APD) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 149.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,729 shares of the basic materials company's stock after purchasing an additional 22,625 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Air Products and Chemicals were worth $11,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its holdings in shares of Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company's stock worth $2,720,704,000 after buying an additional 4,309,040 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Air Products and Chemicals by 29,954.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock worth $861,722,000 after acquiring an additional 2,884,581 shares during the last quarter. National Bank of Canada FI grew its stake in Air Products and Chemicals by 2,931.0% in the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company's stock worth $444,352,000 after acquiring an additional 1,737,260 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Air Products and Chemicals by 127.3% in 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 last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Air Products and Chemicals by 1,685.4% during the 3rd quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company's stock worth $249,698,000 after purchasing an additional 721,671 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 0.5 %

Air Products and Chemicals stock traded up $1.64 during midday trading on Wednesday, hitting $312.76. 955,225 shares of the stock were exchanged, compared to its average volume of 1,614,711. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The company has a 50 day moving average price of $302.98 and a two-hundred day moving average price of $278.62. The firm has a market cap of $69.53 billion, a P/E ratio of 18.21, a P/E/G ratio of 3.12 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $332.42.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho upped their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company 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. BMO Capital Markets boosted their target price on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Jefferies Financial Group raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and upped their price target for the stock from $295.00 to $364.00 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 target on the stock in a report on Friday, October 25th. Nine equities 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, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus target price of $328.18.

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.