Cullen Investment Group LTD. Reduces Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Cullen Investment Group LTD. significantly reduced its stake in Air Products and Chemicals by 51.8%, now holding only 1,649 shares worth approximately $465,000.
• Several hedge funds, including Electron Capital Partners LLC, increased their positions in Air Products and Chemicals, with Electron Capital's holdings growing by 251.4% during the same period.
• Citigroup and UBS Group have raised their price targets for APD shares, with Citigroup increasing it from $310.00 to $320.00 and UBS from $328.00 to $344.00, reflecting positive analyst sentiment.

Cullen Investment Group LTD. decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 51.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,649 shares of the basic materials company's stock after selling 1,769 shares during the quarter. Cullen Investment Group LTD.'s holdings in Air Products and Chemicals were worth $465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Air Products and Chemicals during the first quarter worth about $25,000. Saudi Central Bank acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $27,000. Citizens National Bank Trust Department lifted its holdings in Air Products and Chemicals by 833.3% in the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in Air Products and Chemicals in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

Shares of APD stock traded down $1.82 during trading hours on Friday, hitting $290.63. 242,402 shares of the company's stock were exchanged, compared to its average volume of 1,231,907. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The firm has a market cap of $64.68 billion, a P/E ratio of 41.82, a P/E/G ratio of 6.48 and a beta of 0.82. The firm has a 50 day moving average of $291.66 and a two-hundred day moving average of $283.85.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the business earned $3.20 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. 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. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently declared 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 dividend yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is presently 103.02%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APD. Citigroup boosted their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a report on Monday, June 30th. UBS Group boosted their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley began coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. Royal Bank Of Canada started coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Finally, Wells Fargo & Company upped their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was 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 in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

About Air Products and Chemicals

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.