Wed Sep 25 09:30:09 UTC 2024: ## Air Products and Chemicals (APD) Sees Mixed Investor Activity: Gabelli Funds Cuts Stake, Others Buy In

**New York, NY** – Air Products and Chemicals, Inc. (NYSE:APD) has seen mixed activity from institutional investors in recent quarters. While Gabelli Funds LLC trimmed its stake in the company by 1.6% during the second quarter, several other funds increased their holdings.

Capital Research Global Investors significantly boosted its stake in APD by 167.2% in the fourth quarter, now holding over 6.9 million shares valued at $1.89 billion. National Bank of Canada FI and Massachusetts Financial Services Co. MA also saw massive increases in their APD holdings during the second quarter, by 2931.0% and 127.3% respectively.

Despite the mixed investor activity, equities analysts remain generally positive on APD. While Barclays and Morgan Stanley maintained an “equal weight” rating, UBS Group and Bank of America upgraded their price targets, with Bank of America issuing a “buy” rating. Wells Fargo & Company also upgraded their price target and assigned an “overweight” rating. Overall, MarketBeat assigns APD a “hold” rating with an average price target of $297.40.

APD’s stock opened at $295.75 on Wednesday. The company recently announced quarterly earnings that surpassed analyst expectations, reporting $3.20 earnings per share for the quarter, exceeding the consensus estimate of $3.04. The company also declared a quarterly dividend of $1.77, payable on November 12th.

Air Products and Chemicals provides atmospheric gases, process and specialty gases, and related services globally.

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