Air Products and Chemicals, Inc. $APD Shares Sold by Franklin Resources Inc.

Key Points

• Franklin Resources cut its Air Products and Chemicals stake by 21.7% in the fourth quarter, selling about 1.0 million shares and leaving it with 3.6 million shares valued at roughly $892.8 million.
• Several other large institutional investors increased their positions, and hedge funds now own 81.66% of the company, highlighting strong institutional interest in APD despite Franklin’s reduction.
• Air Products reported better-than-expected quarterly results with EPS of $3.20 vs. $3.06 expected and revenue of $3.17 billion, while analysts maintain a Moderate Buy consensus with a $323.12 price target.

Franklin Resources Inc. lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,614,167 shares of the basic materials company's stock after selling 1,002,138 shares during the quarter. Franklin Resources Inc. owned about 1.62% of Air Products and Chemicals worth $892,771,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Air Products and Chemicals by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 22,304,678 shares of the basic materials company's stock valued at $5,509,702,000 after acquiring an additional 303,944 shares in the last quarter. Capital International Investors increased its holdings in Air Products and Chemicals by 44.2% in the 4th quarter. Capital International Investors now owns 12,792,580 shares of the basic materials company's stock worth $3,160,023,000 after buying an additional 3,922,567 shares during the period. Capital Research Global Investors increased its holdings in Air Products and Chemicals by 1.2% in the 4th quarter. Capital Research Global Investors now owns 11,904,537 shares of the basic materials company's stock worth $2,940,665,000 after buying an additional 137,595 shares during the period. State Street Corp increased its holdings in Air Products and Chemicals by 1.1% in the 3rd quarter. State Street Corp now owns 9,559,492 shares of the basic materials company's stock worth $2,607,065,000 after buying an additional 106,578 shares during the period. Finally, Dodge & Cox increased its holdings in Air Products and Chemicals by 2.1% in the 3rd quarter. Dodge & Cox now owns 9,004,892 shares of the basic materials company's stock worth $2,455,814,000 after buying an additional 183,492 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Insider Buying and Selling

In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 2,714 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $303.76, for a total value of $824,404.64. Following the sale, the chief financial officer owned 14,212 shares in the company, valued at approximately $4,317,037.12. This represents a 16.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APD. Berenberg Bank set a $350.00 price target on shares of Air Products and Chemicals and gave the stock a "buy" rating in a report on Monday, April 20th. Royal Bank Of Canada increased their price target on shares of Air Products and Chemicals from $338.00 to $341.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. BMO Capital Markets upgraded shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $315.00 price target on shares of Air Products and Chemicals in a report on Monday, May 4th. Finally, Citigroup increased their price target on shares of Air Products and Chemicals from $285.00 to $315.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.12.

Air Products and Chemicals Trading Up 0.1%

Air Products and Chemicals stock opened at $282.74 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.21 and a debt-to-equity ratio of 0.95. Air Products and Chemicals, Inc. has a 12 month low of $229.11 and a 12 month high of $307.96. The stock's 50 day simple moving average is $293.91 and its two-hundred day simple moving average is $275.53. The firm has a market cap of $62.96 billion, a PE ratio of 29.92, a P/E/G ratio of 2.48 and a beta of 0.74.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.06 by $0.14. Air Products and Chemicals had a return on equity of 16.11% and a net margin of 16.91%.The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the prior year, the firm posted $2.69 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. Analysts anticipate that Air Products and Chemicals, Inc. will post 13.2 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Wednesday, July 1st will be given a $1.81 dividend. This represents a $7.24 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, July 1st. Air Products and Chemicals's dividend payout ratio is currently 76.19%.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.