Air Products and Chemicals, Inc. $APD Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Air Products and Chemicals by 28.1% during the first quarter, selling 1,510 shares and now owning 3,870 shares valued at $1,141,000.
• Air Products and Chemicals reported earnings per share (EPS) of $3.09 for the last quarter, which surpassed analysts' expectations, along with a revenue of $3.02 billion.
• The company declared a $1.79 quarterly dividend to be paid on November 10th, with a dividend yield of 2.4% and a payout ratio of 103.02%.

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 28.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,870 shares of the basic materials company's stock after selling 1,510 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Air Products and Chemicals were worth $1,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in APD. Wayfinding Financial LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth $25,000. Cheviot Value Management LLC acquired a new position in shares of Air Products and Chemicals during the 1st quarter worth $27,000. Citizens National Bank Trust Department grew its stake in shares of Air Products and Chemicals by 833.3% during the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Air Products and Chemicals by 525.9% during the 4th quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock worth $49,000 after purchasing an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Air Products and Chemicals by 3,560.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 183 shares of the basic materials company's stock worth $54,000 after purchasing an additional 178 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals 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 transaction, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

APD has been the subject of several research reports. Mizuho lifted their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wells Fargo & Company lifted their price target 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. Morgan Stanley initiated coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target for the company. Citigroup lifted their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Price Performance

Shares of APD traded down $0.82 during trading hours on Monday, reaching $294.20. 510,794 shares of the company traded hands, compared to its average volume of 793,004. The stock has a market capitalization of $65.47 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 6.56 and a beta of 0.82. 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 stock has a fifty day simple moving average of $291.02 and a 200 day simple moving average of $285.60.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 earnings per share. 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. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be issued a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 103.02%.

Air Products and Chemicals Company Profile

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.