1,689,067 Shares in Air Products and Chemicals, Inc. $APD Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 1.69 million Air Products and Chemicals shares worth approximately $495.2 million, representing about 0.76% of the company. Institutional investors collectively own 81.66% of APD.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $332.76; recent targets range from $320 to $373.
• Air Products exceeded quarterly earnings expectations with $3.47 in EPS versus a $3.34 consensus, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81, or $7.24 annually, yielding about 2.4%.

Bank of New York Mellon Corp bought a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,689,067 shares of the basic materials company's stock, valued at approximately $495,201,000. Bank of New York Mellon Corp owned approximately 0.76% of Air Products and Chemicals as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after purchasing an additional 412 shares during the last quarter. Bison Wealth LLC bought a new stake in Air Products and Chemicals during the fourth quarter valued at about $245,000. Sei Investments Co. grew its position in shares of Air Products and Chemicals by 197.6% in the second quarter. Sei Investments Co. now owns 281,861 shares of the basic materials company's stock valued at $79,498,000 after purchasing an additional 187,142 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Air Products and Chemicals by 2.1% in the second quarter. Treasurer of the State of North Carolina now owns 103,777 shares of the basic materials company's stock valued at $29,271,000 after purchasing an additional 2,171 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its stake in shares of Air Products and Chemicals by 52.5% in the second quarter. Diversify Advisory Services LLC now owns 6,474 shares of the basic materials company's stock worth $1,873,000 after purchasing an additional 2,229 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APD. UBS Group boosted their target price on shares of Air Products and Chemicals from $330.00 to $336.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Sanford C. Bernstein restated an "outperform" rating and set a $373.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 31st. Citigroup upped their price target on Air Products and Chemicals from $315.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $320.00 price objective on shares of Air Products and Chemicals in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and an average target price of $332.76.

Air Products and Chemicals Trading Up 1.7%

NYSE:APD opened at $305.55 on Friday. 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, Inc. has a 1-year low of $229.11 and a 1-year high of $314.87. The firm has a market capitalization of $68.04 billion, a price-to-earnings ratio of -1,388.86, a PEG ratio of 2.61 and a beta of 0.73. The business's 50-day moving average price is $295.82 and its two-hundred day moving average price is $290.75.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. The firm 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 business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 13.45 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company 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. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals's dividend payout ratio is presently -3,290.91%.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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