Marble Harbor Investment Counsel LLC Cuts Stock Position in Air Products and Chemicals, Inc. (NYSE:APD)

Marble Harbor Investment Counsel LLC decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 17.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,650 shares of the basic materials company's stock after selling 3,376 shares during the period. Marble Harbor Investment Counsel LLC's holdings in Air Products and Chemicals were worth $4,038,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Cape Investment Advisory Inc. boosted its holdings in Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company's stock worth $906,000 after buying an additional 37 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in Air Products and Chemicals by 0.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company's stock valued at $2,814,000 after purchasing an additional 39 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Air Products and Chemicals by 2.3% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company's stock valued at $455,000 after purchasing an additional 39 shares in the last quarter. Stokes Family Office LLC raised its holdings in Air Products and Chemicals by 3.4% during the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company's stock worth $313,000 after purchasing an additional 40 shares during the last quarter. Finally, Invesco LLC boosted its position in Air Products and Chemicals by 2.6% during the second quarter. Invesco LLC now owns 1,581 shares of the basic materials company's stock worth $408,000 after purchasing an additional 40 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on APD. Bank of America lifted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a "buy" rating in a research note on Monday, June 10th. StockNews.com downgraded shares of Air Products and Chemicals from a "hold" rating to a "sell" rating in a report on Friday, September 6th. Citigroup raised their price objective on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 12th. Morgan Stanley lifted their price objective 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. Finally, BMO Capital Markets increased their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Two research 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, Air Products and Chemicals presently has a consensus rating of "Hold" and a consensus target price of $297.40.

Air Products and Chemicals Trading Up 1.7 %

NYSE:APD traded up $4.74 during trading hours on Monday, reaching $288.87. 1,294,906 shares of the company were exchanged, compared to its average volume of 1,629,802. The firm has a market cap of $64.22 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.70 and a beta of 0.82. The stock has a 50 day simple moving average of $271.74 and a 200 day simple moving average of $258.40. Air Products and Chemicals, Inc. has a 52-week low of $212.24 and a 52-week high of $301.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a return on equity of 16.53% and a net margin of 21.24%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.04 billion. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.32 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, October 1st. 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.