Pine Harbor Wealth Management LLC Acquires 106 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Pine Harbor Wealth Management LLC lifted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 9.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,238 shares of the basic materials company’s stock after acquiring an additional 106 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in Air Products and Chemicals were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of APD. Avantax Advisory Services Inc. boosted its holdings in shares of Air Products and Chemicals by 151.3% in the first quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock worth $6,028,000 after acquiring an additional 14,981 shares during the period. 1832 Asset Management L.P. boosted its stake in Air Products and Chemicals by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock worth $16,355,000 after purchasing an additional 2,321 shares during the period. TD Asset Management Inc increased its position in shares of Air Products and Chemicals by 1.6% during the fourth quarter. TD Asset Management Inc now owns 351,506 shares of the basic materials company’s stock valued at $96,242,000 after buying an additional 5,502 shares during the period. Trilogy Capital Inc. purchased a new stake in shares of Air Products and Chemicals in the first quarter worth about $2,625,000. Finally, Madison Asset Management LLC boosted its position in shares of Air Products and Chemicals by 8.2% in the fourth quarter. Madison Asset Management LLC now owns 126,928 shares of the basic materials company’s stock valued at $34,753,000 after acquiring an additional 9,663 shares during the period. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Air Products and Chemicals from $290.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. UBS Group increased their price objective on Air Products and Chemicals from $276.00 to $281.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. The Goldman Sachs Group raised their price target on Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Citigroup boosted their price objective on Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $297.40.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $284.13 on Friday. The firm has a fifty day simple moving average of $271.06 and a two-hundred day simple moving average of $257.84. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals, Inc. has a twelve month low of $212.24 and a twelve month high of $307.71. The company has a market capitalization of $63.16 billion, a PE ratio of 25.64, a P/E/G ratio of 3.70 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. Research analysts expect that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.49%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

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.