Marble Harbor Investment Counsel LLC Has $3.92 Million Stake in Air Products and Chemicals, Inc. (NYSE:APD)

Key Points

• Marble Harbor Investment Counsel LLC has reduced its stake in Air Products and Chemicals by 12.4%, holding 13,285 shares valued at approximately $3.92 million.
• A total of 81.66% of Air Products and Chemicals' stock is owned by hedge funds and institutional investors, with significant stakes acquired by others, such as Bank of America, which raised its position by 129.4%.
• Air Products and Chemicals announced a quarterly dividend of $1.79, with a yield of 2.5% and a payout ratio of 104.07%, scheduled for payment on November 10th.

Marble Harbor Investment Counsel LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,285 shares of the basic materials company's stock after selling 1,875 shares during the period. Marble Harbor Investment Counsel LLC's holdings in Air Products and Chemicals were worth $3,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after purchasing an additional 412 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Air Products and Chemicals by 36.6% in the fourth quarter. Wellington Management Group LLP now owns 8,775 shares of the basic materials company's stock valued at $2,545,000 after acquiring an additional 2,352 shares during the period. Trexquant Investment LP acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $722,000. Bryce Point Capital LLC acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $478,000. Finally, Westpac Banking Corp boosted its holdings in shares of Air Products and Chemicals by 132.4% in the fourth quarter. Westpac Banking Corp now owns 1,369 shares of the basic materials company's stock valued at $397,000 after acquiring an additional 780 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley started coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Barclays decreased their price objective on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Mizuho raised their price target on 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. Finally, Bank of America lowered Air Products and Chemicals from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $330.00 to $282.00 in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $334.75.

Air Products and Chemicals Trading Up 1.3%

Shares of NYSE:APD traded up $3.68 during midday trading on Tuesday, hitting $291.16. The company had a trading volume of 174,372 shares, compared to its average volume of 1,332,017. The stock has a market cap of $64.80 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 5.41 and a beta of 0.81. The firm has a fifty day simple moving average of $285.39 and a 200 day simple moving average of $290.00. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $3.20 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is presently 103.02%.

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.