Victory Capital Management Inc. Cuts Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Victory Capital Management Inc. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,514 shares of the basic materials company's stock after selling 44,918 shares during the quarter. Victory Capital Management Inc.'s holdings in Air Products and Chemicals were worth $31,713,000 at the end of the most recent reporting period.

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

Air Products and Chemicals Trading Up 0.4 %

APD stock traded up $1.22 during midday 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. The stock has a fifty day simple moving average of $305.56 and a two-hundred day simple 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. The firm has a market capitalization of $70.49 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.18 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.

Wall Street Analyst Weigh In

Several research firms recently commented on APD. The Goldman Sachs Group increased their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Mizuho raised their price objective 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. BMO Capital Markets upped their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered shares of Air Products and Chemicals from a "buy" rating to a "hold" rating and cut their target price for the company from $310.00 to $280.00 in a report on Monday, July 22nd. Finally, Jefferies Financial Group upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating and increased their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $329.76.

Air Products and Chemicals 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.