Air Products and Chemicals, Inc. $APD Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. sold 69,700 shares of Air Products and Chemicals, Inc., reducing its holdings by 31.3% and lowering its ownership to 153,040 shares, worth approximately $45.1 million.
• The company reported an EPS of $3.09 for the last quarter, beating expectations, with revenue of $3.02 billion, reflecting a year-over-year increase of 1.2%.
• Air Products declared a quarterly dividend of $1.79, with a payout ratio of 103.02%, and an annualized dividend yield of 2.5%, to be paid on November 10th.

Adage Capital Partners GP L.L.C. cut its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 31.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,040 shares of the basic materials company's stock after selling 69,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Air Products and Chemicals worth $45,135,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec lifted its position in shares of Air Products and Chemicals by 21.6% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,342 shares of the basic materials company's stock worth $1,870,000 after purchasing an additional 1,128 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Air Products and Chemicals by 6.8% in the first quarter. EP Wealth Advisors LLC now owns 14,902 shares of the basic materials company's stock worth $4,395,000 after purchasing an additional 954 shares during the last quarter. Ashton Thomas Securities LLC lifted its position in Air Products and Chemicals by 2.5% during the first quarter. Ashton Thomas Securities LLC now owns 11,450 shares of the basic materials company's stock valued at $3,377,000 after buying an additional 275 shares during the period. First Manhattan CO. LLC. raised its position in shares of Air Products and Chemicals by 1.5% in the 1st quarter. First Manhattan CO. LLC. now owns 8,116 shares of the basic materials company's stock worth $2,394,000 after purchasing an additional 120 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in shares of Air Products and Chemicals during the 1st quarter valued at about $39,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of recent research reports. Mizuho increased their price target on 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. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Morgan Stanley initiated coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price for the company. Finally, Citigroup increased their target price on 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 equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $335.07.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the sale, the vice president directly owned 8,686 shares of the company's stock, valued at $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of APD stock traded down $0.99 on Monday, reaching $288.87. The stock had a trading volume of 716,853 shares, compared to its average volume of 1,258,636. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $64.29 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 6.47 and a beta of 0.82. The firm's 50-day moving average is $291.70 and its two-hundred day moving average is $284.89. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14.

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 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 company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the prior year, the company posted $3.20 EPS. Air Products and Chemicals'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. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is 103.02%.

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.