WealthPlan Investment Management LLC raised its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 137.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,394 shares of the basic materials company's stock after purchasing an additional 9,485 shares during the quarter. WealthPlan Investment Management LLC's holdings in Air Products and Chemicals were worth $4,487,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Air Products and Chemicals by 277.4% in the second quarter. State Street Corp now owns 38,161,451 shares of the basic materials company's stock worth $10,597,451,000 after buying an additional 28,050,956 shares during the last quarter. BlackRock Inc. acquired a new stake in Air Products and Chemicals in the second quarter valued at $5,370,093,000. Bank of America Corp DE boosted its stake 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 acquiring an additional 556,188 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake 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 acquiring an additional 2,563,873 shares during the last quarter. Finally, Aristotle Capital Management LLC grew its holdings 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 acquiring an additional 14,262 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on APD. Argus boosted their target price on shares of Air Products and Chemicals from $316.00 to $329.00 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. KeyCorp assumed coverage on shares of Air Products and Chemicals in a research report on Thursday, September 10th. They set a "sector weight" rating on the stock. Wells Fargo & Company increased their price target on shares of 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. UBS Group decreased their price target on Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating for the company in a research note on Monday, October 5th. Finally, Morgan Stanley set a $320.00 price objective on Air Products and Chemicals in a report on Monday, August 3rd. Two equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $333.88.
Read Our Latest Stock Report on Air Products and Chemicals
Air Products and Chemicals Stock Performance
APD stock traded up $2.69 during trading on Thursday, hitting $295.22. 221,102 shares of the company's stock traded hands, compared to its average volume of 1,270,413. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. Air Products and Chemicals, Inc. has a 52 week low of $229.11 and a 52 week high of $314.87. The stock has a fifty day moving average price of $293.95 and a two-hundred day moving average price of $293.21. The stock has a market capitalization of $65.74 billion, a price-to-earnings ratio of -1,342.80, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76.
Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the firm posted $3.09 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. 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. As a group, equities analysts anticipate that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.
Air Products and Chemicals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Thursday, October 1st will be issued a dividend of $1.81 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $7.24 annualized dividend and a dividend yield of 2.5%. Air Products and Chemicals's dividend payout ratio is -3,290.91%.
Air Products and Chemicals Company Profile
(
Free Report)
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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