4,306,964 Shares in Air Products and Chemicals, Inc. $APD Bought by Norges Bank

Key Points

• Norges Bank disclosed a new position in Air Products and Chemicals, buying 4,306,964 shares valued at about $1.06 billion, equal to roughly 1.93% of the company.
• Air Products and Chemicals shares were down 1.9% in Friday trading, with the stock opening at $278.37 and sitting below its 50-day average of $294.21.
• The company posted better-than-expected quarterly results, including EPS of $3.20 versus $3.06 expected and revenue of $3.17 billion, while also announcing a quarterly dividend of $1.81 per share and receiving mostly positive analyst ratings.

Norges Bank acquired a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,306,964 shares of the basic materials company's stock, valued at approximately $1,063,906,000. Norges Bank owned about 1.93% of Air Products and Chemicals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Air Products and Chemicals by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 22,304,678 shares of the basic materials company's stock valued at $5,509,702,000 after buying an additional 303,944 shares during the last quarter. Capital Research Global Investors raised its stake in Air Products and Chemicals by 2.4% in the third quarter. Capital Research Global Investors now owns 11,766,942 shares of the basic materials company's stock valued at $3,209,068,000 after buying an additional 272,197 shares during the last quarter. State Street Corp raised its stake in Air Products and Chemicals by 1.1% in the third quarter. State Street Corp now owns 9,559,492 shares of the basic materials company's stock valued at $2,607,065,000 after buying an additional 106,578 shares during the last quarter. Dodge & Cox raised its stake in Air Products and Chemicals by 2.1% in the third quarter. Dodge & Cox now owns 9,004,892 shares of the basic materials company's stock valued at $2,455,814,000 after buying an additional 183,492 shares during the last quarter. Finally, Capital International Investors raised its stake in Air Products and Chemicals by 7.4% in the third quarter. Capital International Investors now owns 8,870,013 shares of the basic materials company's stock valued at $2,419,029,000 after buying an additional 609,489 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 1.9%

APD stock opened at $278.37 on Friday. The company has a market capitalization of $61.99 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.77. Air Products and Chemicals, Inc. has a 12 month low of $229.11 and a 12 month high of $307.96. The firm's fifty day simple moving average is $294.21 and its 200-day simple moving average is $274.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 1.21.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.14. Air Products and Chemicals had a net margin of 16.91% and a return on equity of 16.11%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm posted $2.69 earnings per share. The firm's quarterly revenue was up 8.8% on a year-over-year basis. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. As a group, equities research analysts forecast that Air Products and Chemicals, Inc. will post 13.2 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be paid a $1.81 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.6%. Air Products and Chemicals's dividend payout ratio is presently 76.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on Air Products and Chemicals from $325.00 to $340.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Mizuho set a $345.00 price target on Air Products and Chemicals in a research note on Friday, May 1st. Royal Bank Of Canada increased their price target on Air Products and Chemicals from $338.00 to $341.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Finally, Berenberg Bank set a $350.00 price target on Air Products and Chemicals and gave the company a "buy" rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Air Products and Chemicals has a consensus rating of "Moderate Buy" and a consensus target price of $323.12.

Insider Activity at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $303.76, for a total transaction of $824,404.64. Following the sale, the chief financial officer directly owned 14,212 shares of the company's stock, valued at $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.88% of the stock is owned by insiders.

Air Products and Chemicals Profile

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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