5,026 Air Products and Chemicals, Inc. $APD Shares Purchased by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department increased its Air Products and Chemicals stake by 501.1% in the third quarter, acquiring 5,026 additional shares for a total of 6,029 shares valued at approximately $1.65 million.
• Institutional investors own 81.66% of APD shares, while analysts maintain a “Moderate Buy” consensus with an average price target of $334.71; recent targets range from $312 to $355.
• APD shares rose 1.8% to $289.12, and the company reported quarterly EPS of $3.47, exceeding estimates, alongside a quarterly dividend of $1.81 per share, or a 2.5% annualized yield.

Mechanics Bank Trust Department grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 501.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,029 shares of the basic materials company's stock after acquiring an additional 5,026 shares during the period. Mechanics Bank Trust Department's holdings in Air Products and Chemicals were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State Street Corp grew its stake in Air Products and Chemicals by 277.4% during the 2nd quarter. State Street Corp now owns 38,161,451 shares of the basic materials company's stock valued at $10,597,451,000 after purchasing an additional 28,050,956 shares in the last quarter. BlackRock Inc. bought a new position in shares of Air Products and Chemicals during the second quarter valued at approximately $5,370,093,000. Bank of America Corp DE boosted its position in Air Products and Chemicals by 14.3% during the 1st quarter. Bank of America Corp DE now owns 4,443,531 shares of the basic materials company's stock valued at $1,290,801,000 after purchasing an additional 556,188 shares during the period. Envestnet Asset Management Inc. boosted its position in Air Products and Chemicals by 326.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company's stock valued at $927,010,000 after purchasing an additional 2,563,873 shares during the period. Finally, Aristotle Capital Management LLC grew its stake in Air Products and Chemicals by 0.5% during the 1st quarter. Aristotle Capital Management LLC now owns 2,683,883 shares of the basic materials company's stock worth $779,665,000 after buying an additional 14,262 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on APD shares. Barclays started coverage on shares of Air Products and Chemicals in a research report on Monday. They set an "overweight" rating and a $353.00 price target for the company. Morgan Stanley set a $320.00 price objective on Air Products and Chemicals in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $320.00 target price on shares of Air Products and Chemicals in a report on Monday, August 3rd. Mizuho upped their price objective on shares of Air Products and Chemicals from $345.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, Citigroup reduced their price objective on shares of Air Products and Chemicals from $330.00 to $312.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $334.71.

Air Products and Chemicals Stock Up 1.8%

APD stock traded up $5.25 during mid-day trading on Tuesday, hitting $289.12. The stock had a trading volume of 891,364 shares, compared to its average volume of 1,277,052. The stock has a market capitalization of $64.38 billion, a price-to-earnings ratio of -1,314.19, a PEG ratio of 2.65 and a beta of 0.76. The company has a fifty day moving average of $294.01 and a 200 day moving average of $293.22. 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.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its 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. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The firm had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the previous year, the company earned $3.09 earnings per share. The company's 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. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a $1.81 dividend. This represents a $7.24 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals's payout ratio is -3,290.91%.

Air Products and Chemicals Company 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.

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