Air Products and Chemicals, Inc. $APD Shares Acquired by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors increased its Air Products and Chemicals stake by 698% in the third quarter, bringing its holdings to 13,949 shares valued at approximately $3.8 million. Institutional investors collectively own 81.66% of APD.
• Air Products reported quarterly EPS of $3.47, exceeding analyst expectations of $3.34, while revenue reached $3.16 billion, up 4.6% year over year but below estimates.
• The company declared a quarterly dividend of $1.81 per share, equivalent to $7.24 annually and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $333.88.

Frank Rimerman Advisors LLC raised its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 698.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,949 shares of the basic materials company's stock after acquiring an additional 12,201 shares during the period. Frank Rimerman Advisors LLC's holdings in Air Products and Chemicals were worth $3,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of APD. State Street Corp grew its stake in shares of Air Products and Chemicals by 277.4% in the 2nd quarter. State Street Corp now owns 38,161,451 shares of the basic materials company's stock worth $10,597,451,000 after acquiring an additional 28,050,956 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Air Products and Chemicals in the second quarter valued at about $5,370,093,000. Bank of America Corp DE raised its holdings 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 last quarter. Envestnet Asset Management Inc. lifted its position in shares of Air Products and Chemicals by 326.7% during the second 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 in the last quarter. Finally, Aristotle Capital Management LLC lifted its position in shares of Air Products and Chemicals by 0.5% during the first quarter. Aristotle Capital Management LLC now owns 2,683,883 shares of the basic materials company's stock valued at $779,665,000 after purchasing an additional 14,262 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Up 0.9%

Shares of NYSE:APD opened at $299.19 on Friday. The company has a market capitalization of $66.63 billion, a PE ratio of -1,359.98, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92. The business has a fifty day moving average price of $293.80 and a two-hundred day moving average price of $293.28. 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 announced its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.13. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%. The business's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $3.09 EPS. 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. Analysts forecast that Air Products and Chemicals, Inc. will post 13.46 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be given a dividend of $1.81 per share. The ex-dividend date is Thursday, October 1st. This represents a $7.24 annualized dividend and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio is presently -3,290.91%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APD. KeyCorp assumed coverage on shares of Air Products and Chemicals in a report on Thursday, September 10th. They set a "sector weight" rating on the stock. Royal Bank Of Canada reduced their price objective on shares of Air Products and Chemicals from $360.00 to $346.00 and set an "outperform" rating for the company in a research report on Thursday. Sanford C. Bernstein reiterated an "outperform" rating and issued a $373.00 price objective on shares of Air Products and Chemicals in a research note on Friday, July 31st. Morgan Stanley set a $320.00 target price on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $320.00 target price on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $333.88.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.

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