14,462 Air Products and Chemicals, Inc. $APD Shares Sold by Confluence Investment Management LLC

Key Points

• Confluence Investment Management reduced its Air Products and Chemicals stake by 7.1%, selling 14,462 shares and retaining 188,435 shares valued at approximately $52.4 million. Institutional investors collectively own 81.66% of APD.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $336.62, despite several firms maintaining neutral or hold ratings.
• APD shares fell 2.2% to $272.09, while the company reported quarterly EPS of $3.47—above estimates—and announced a quarterly dividend of $1.81, representing a 2.7% annualized yield.

Confluence Investment Management LLC decreased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,435 shares of the basic materials company's stock after selling 14,462 shares during the period. Confluence Investment Management LLC owned approximately 0.08% of Air Products and Chemicals worth $52,428,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in shares of Air Products and Chemicals by 1,378.1% during the 2nd quarter. QRG Capital Management Inc. now owns 111,479 shares of the basic materials company's stock valued at $30,502,000 after purchasing an additional 103,937 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Air Products and Chemicals by 1,846.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 84,945 shares of the basic materials company's stock valued at $23,203,000 after buying an additional 80,580 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Air Products and Chemicals by 326.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company's stock valued at $927,010,000 after buying an additional 2,563,873 shares in the last quarter. State Street Corp grew its holdings in Air Products and Chemicals by 277.4% during the second quarter. State Street Corp now owns 38,161,451 shares of the basic materials company's stock worth $10,597,451,000 after acquiring an additional 28,050,956 shares during the period. Finally, Anchor Investment Management LLC raised its position in Air Products and Chemicals by 1,768.1% in the second quarter. Anchor Investment Management LLC now owns 47,039 shares of the basic materials company's stock worth $12,847,000 after acquiring an additional 44,521 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Air Products and Chemicals from $315.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Morgan Stanley set a $320.00 target price on shares of Air Products and Chemicals in a research note on Monday, August 3rd. KeyCorp began coverage on shares of Air Products and Chemicals in a report on Thursday, September 10th. They set a "sector weight" rating for the company. Argus upped their price target on Air Products and Chemicals from $316.00 to $329.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $320.00 price objective on shares of Air Products and Chemicals in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $336.62.

Air Products and Chemicals Trading Down 2.2%

APD stock traded down $6.14 during mid-day trading on Thursday, reaching $272.09. 585,107 shares of the stock traded hands, compared to its average volume of 1,289,184. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $314.87. The stock's fifty day moving average is $296.70 and its 200-day moving average is $293.53. The company has a market cap of $60.59 billion, a P/E ratio of -1,233.65, a P/E/G ratio of 2.81 and a beta of 0.75. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.09 earnings per share. Air Products and Chemicals has set its FY 2026 guidance at 13.390-13.490 EPS and its Q4 2026 guidance at 3.550-3.650 EPS. As a group, sell-side analysts expect that Air Products and Chemicals, Inc. will post 13.46 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Thursday, October 1st will be issued a $1.81 dividend. The ex-dividend date is Thursday, October 1st. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.7%. Air Products and Chemicals's dividend payout ratio is presently -3,290.91%.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc is a global industrial gases and related equipment company headquartered in Allentown, Pennsylvania. The company supplies atmospheric gases such as oxygen, nitrogen and argon, as well as process and specialty gases including hydrogen, helium, carbon dioxide and syngas.

Air Products serves customers in a range of industries, including refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings include gases delivered through pipelines, bulk and packaged distribution, and on-site production systems, along with gas-processing equipment and technologies used in applications such as hydrogen production, natural gas liquefaction and carbon capture.

Founded in 1940, Air Products operates across North America, Europe, the Middle East, Asia and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.