8,066 Air Products and Chemicals, Inc. $APD Shares Bought by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. increased its Air Products and Chemicals stake by 179.1% in the third quarter, adding 8,066 shares to hold 12,570 shares valued at approximately $3.45 million. Institutional investors collectively own 81.66% of APD.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $333.56, despite UBS lowering its target to $305. APD recently traded at $277.91, below its 50- and 200-day moving averages.
• Air Products reported quarterly EPS of $3.47, beating estimates, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81, equivalent to a 2.6% annualized yield.

Canandaigua National Bank & Trust Co. increased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 179.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,570 shares of the basic materials company's stock after acquiring an additional 8,066 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Air Products and Chemicals were worth $3,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Air Products and Chemicals by 277.4% during the second 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 during the last quarter. BlackRock Inc. purchased a new position in shares of Air Products and Chemicals in the second quarter worth about $5,370,093,000. Bank of America Corp DE raised its position in shares of Air Products and Chemicals by 14.3% in the first 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. lifted its stake in shares of 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 buying an additional 2,563,873 shares in the last quarter. Finally, Aristotle Capital Management LLC lifted its stake in shares of 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 valued at $779,665,000 after buying an additional 14,262 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating for the company in a research note on Monday. Wells Fargo & Company increased their target price on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings lowered Air Products and Chemicals from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $320.00 price target on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Finally, Mizuho increased their price objective on Air Products and Chemicals from $345.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $333.56.

Air Products and Chemicals Price Performance

NYSE:APD traded down $3.09 during mid-day trading on Wednesday, hitting $277.91. 948,429 shares of the stock traded hands, compared to its average volume of 1,287,796. The business's 50-day moving average price is $295.36 and its 200 day moving average price is $293.30. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The company has a market cap of $61.89 billion, a PE ratio of -1,263.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.76. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month 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, 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 for the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the company posted $3.09 EPS. The business's revenue for the quarter 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, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be given a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is -3,290.91%.

About Air Products and Chemicals

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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