1832 Asset Management L.P. Trims Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• 1832 Asset Management L.P. has cut its stake in Air Products and Chemicals by 50%, now holding 37,359 shares valued at approximately $11 million.
• Several institutional investors, including Bank of America and GAMMA Investing, have significantly increased their holdings in Air Products, indicating growing investor interest.
• Air Products reported earnings of $3.09 per share, surpassing analysts' expectations, and declared a quarterly dividend of $1.79 per share scheduled for November 10.

1832 Asset Management L.P. reduced its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 50.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,359 shares of the basic materials company's stock after selling 37,298 shares during the quarter. 1832 Asset Management L.P.'s holdings in Air Products and Chemicals were worth $11,018,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mantle Ridge LP acquired a new stake in Air Products and Chemicals during the 4th quarter worth $1,191,344,000. Bank of America Corp DE boosted its stake in shares of Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares during the period. GAMMA Investing LLC grew its holdings in shares of Air Products and Chemicals by 31,752.0% during the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock worth $368,612,000 after buying an additional 1,245,947 shares during the last quarter. Principal Financial Group Inc. increased its position in Air Products and Chemicals by 159.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock valued at $508,962,000 after acquiring an additional 1,059,970 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Air Products and Chemicals by 110.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,441,752 shares of the basic materials company's stock valued at $425,202,000 after acquiring an additional 756,780 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $299.0190 on Friday. The firm has a market capitalization of $66.55 billion, a P/E ratio of 43.02, a PEG ratio of 6.68 and a beta of 0.81. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company's fifty day moving average is $288.74 and its two-hundred day moving average is $286.64. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the firm posted $3.20 EPS. The business's revenue was up 1.2% compared to the same quarter last year. Air Products and Chemicals has set its FY 2025 guidance at 11.900-12.100 EPS. Q4 2025 guidance at 3.270-3.470 EPS. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is presently 103.02%.

Analyst Ratings Changes

Several brokerages have weighed in on APD. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Mizuho upped their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Barclays reduced their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup boosted their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Activity at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the sale, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by company insiders.

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.

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