Kayne Anderson Capital Advisors LP Sells 47,055 Shares of Air Products and Chemicals, Inc. $APD

Kayne Anderson Capital Advisors LP lessened its position in Air Products and Chemicals, Inc. (NYSE:APD) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 143,520 shares of the basic materials company’s stock after selling 47,055 shares during the quarter. Air Products and Chemicals makes up about 0.9% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 20th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Air Products and Chemicals were worth $40,481,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter valued at approximately $25,000. Saudi Central Bank acquired a new stake in Air Products and Chemicals in the 1st quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $27,000. Westside Investment Management Inc. raised its position in Air Products and Chemicals by 228.1% in the second quarter. Westside Investment Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Finally, Financial Connections Group Inc. increased its position in shares of Air Products and Chemicals by 46.7% during the second quarter. Financial Connections Group Inc. now owns 110 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 35 shares during the period. Institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

APD has been the subject of several analyst reports. The Goldman Sachs Group set a $335.00 price target on shares of Air Products and Chemicals in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Air Products and Chemicals in a report on Wednesday, October 8th. Mizuho increased their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $330.00.

Air Products and Chemicals Price Performance

NYSE:APD opened at $237.17 on Thursday. Air Products and Chemicals, Inc. has a 52 week low of $235.55 and a 52 week high of $341.14. The company has a market capitalization of $52.78 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 5.16 and a beta of 0.81. The company has a 50-day moving average of $270.36 and a 200-day moving average of $278.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29.

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.