Pine Harbor Wealth Management LLC Has $319,000 Stock Holdings in Air Products and Chemicals, Inc. (NYSE:APD)

Pine Harbor Wealth Management LLC boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,238 shares of the basic materials company’s stock after purchasing an additional 106 shares during the quarter. Pine Harbor Wealth Management LLC’s holdings in Air Products and Chemicals were worth $319,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in shares of Air Products and Chemicals during the second quarter valued at about $2,184,000. Mystic Asset Management Inc. raised its stake in Air Products and Chemicals by 11.9% during the 2nd quarter. Mystic Asset Management Inc. now owns 937 shares of the basic materials company’s stock worth $242,000 after buying an additional 100 shares during the period. Hanson & Doremus Investment Management raised its stake in Air Products and Chemicals by 2.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 3,751 shares of the basic materials company’s stock worth $968,000 after buying an additional 90 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Air Products and Chemicals by 232.2% in the second quarter. J.W. Cole Advisors Inc. now owns 6,830 shares of the basic materials company’s stock worth $1,763,000 after acquiring an additional 4,774 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Air Products and Chemicals by 20.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 58,864 shares of the basic materials company’s stock valued at $15,190,000 after acquiring an additional 10,127 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Trading Up 1.5 %

NYSE APD opened at $284.13 on Friday. The business’s fifty day moving average is $271.06 and its 200-day moving average is $257.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $63.16 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 3.70 and a beta of 0.82. Air Products and Chemicals, Inc. has a one year low of $212.24 and a one year high of $307.71.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. The Goldman Sachs Group lifted their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup upped their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $297.40.

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.