1ST Source Bank Takes Position in Air Products and Chemicals, Inc. $APD

Key Points

• 1ST Source Bank acquired 7,307 shares of Air Products and Chemicals during the second quarter, worth approximately $2.14 million. Institutional investors collectively own 81.66% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $332.76, above the stock’s reported price of $308.86.
• Air Products exceeded quarterly earnings expectations, reporting $3.47 in EPS versus $3.34 expected, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81 per share, equivalent to a 2.3% annualized yield.

1ST Source Bank acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,307 shares of the basic materials company's stock, valued at approximately $2,142,000.

Several other hedge funds also recently made changes to their positions in APD. Evolution Wealth Management Inc. acquired a new stake in shares of Air Products and Chemicals during the first quarter worth about $25,000. Cornerstone Planning Group LLC grew its stake in shares of Air Products and Chemicals by 318.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company's stock worth $28,000 after purchasing an additional 70 shares during the period. Main Street Group LTD purchased a new position in shares of Air Products and Chemicals in the 1st quarter valued at about $27,000. Lloyd Advisory Services LLC. purchased a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $25,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $25,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on APD. Evercore restated an "outperform" rating and issued a $342.00 price target on shares of Air Products and Chemicals in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on Air Products and Chemicals from $310.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. BMO Capital Markets raised shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $360.00 price objective for the company in a research report on Friday, May 1st. UBS Group upped their price objective on shares of Air Products and Chemicals from $330.00 to $336.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Finally, Bank of America raised their target price on shares of Air Products and Chemicals from $280.00 to $303.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $332.76.

Air Products and Chemicals Stock Down 0.0%

Air Products and Chemicals stock opened at $308.86 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.08. The company has a 50-day simple moving average of $293.47 and a 200-day simple moving average of $289.49. The firm has a market capitalization of $68.78 billion, a P/E ratio of -1,403.92, a P/E/G ratio of 2.68 and a beta of 0.73. Air Products and Chemicals, Inc. has a one year low of $229.11 and a one year high of $314.87.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.13. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the company posted $3.09 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. 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, equities analysts expect that Air Products and Chemicals, Inc. will post 13.45 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $1.81 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $7.24 dividend on an annualized basis and a yield of 2.3%. Air Products and Chemicals's dividend payout ratio is currently -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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