14,301 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Bought by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,301 shares of the basic materials company’s stock, valued at approximately $3,627,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Security National Bank purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Air Products and Chemicals in the first quarter worth $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Air Products and Chemicals in the fourth quarter worth $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals in the second quarter worth $32,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Air Products and Chemicals by 2,250.0% in the first quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock worth $34,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Down 0.9 %

NYSE APD opened at $297.74 on Tuesday. 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 $66.19 billion, a PE ratio of 26.87, a PEG ratio of 3.89 and a beta of 0.82. Air Products and Chemicals, Inc. has a 1 year low of $212.24 and a 1 year high of $302.03. The business’s 50-day moving average is $278.33 and its 200 day moving average is $261.96.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.16. The company had revenue of $2.99 billion for 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%. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. Air Products and Chemicals’s payout ratio is presently 63.90%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APD. Bank of America raised their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. UBS Group raised their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Finally, Wells Fargo & Company raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $296.50.

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.