Air Products and Chemicals, Inc. $APD Shares Acquired by State Street Corp

Key Points

• State Street increased its Air Products and Chemicals position by 277.4% in the second quarter, acquiring 28.1 million additional shares and bringing its stake to approximately 17.14%. Institutional investors collectively own 81.66% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $336.53. Mizuho and RBC recently raised their targets to $355 and $360, respectively.
• Air Products reported quarterly EPS of $3.47, exceeding estimates, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81 per share, equivalent to a 2.5% annualized yield.

State Street Corp raised its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 277.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,161,451 shares of the basic materials company's stock after acquiring an additional 28,050,956 shares during the quarter. State Street Corp owned approximately 17.14% of Air Products and Chemicals worth $10,597,451,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Evolution Wealth Management Inc. purchased a new stake in Air Products and Chemicals during the 1st quarter worth approximately $25,000. Fiduciary Financial Advisors purchased a new position in Air Products and Chemicals in the 2nd quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its stake in shares of Air Products and Chemicals by 318.2% in the first quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company's stock worth $28,000 after acquiring an additional 70 shares in the last quarter. Main Street Group LTD purchased a new stake in shares of Air Products and Chemicals during the first quarter worth $27,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Air Products and Chemicals during the 4th quarter worth $25,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Air Products and Chemicals from $345.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Morgan Stanley set a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. KeyCorp initiated coverage on shares of Air Products and Chemicals in a report on Thursday, September 10th. They issued a "sector weight" rating on the stock. Royal Bank Of Canada boosted their target price on Air Products and Chemicals from $358.00 to $360.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, Weiss Ratings cut shares of Air Products and Chemicals from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $336.53.

Air Products and Chemicals Trading Up 2.4%

Shares of APD stock traded up $6.65 during mid-day trading on Tuesday, reaching $286.11. The company's stock had a trading volume of 416,252 shares, compared to its average volume of 1,293,393. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $314.87. The company's 50 day simple moving average is $298.68 and its 200-day simple moving average is $293.26. 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 firm has a market capitalization of $63.71 billion, a PE ratio of -1,301.39, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.34 by $0.13. The firm had revenue of $3.16 billion for 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%.Air Products and Chemicals's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company 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. On average, research analysts predict that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders 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 2.5%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals's dividend payout ratio is presently -3,290.91%.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is a global industrial gases and chemicals company headquartered in Allentown, Pennsylvania. Founded in 1940, the company supplies atmospheric and process gases, including oxygen, nitrogen, argon, hydrogen, helium, carbon monoxide and syngas, along with related equipment and technical services.

Air Products serves customers in industries such as refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings support applications including combustion, metal fabrication, semiconductor production, food preservation, medical care and industrial processing.

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