Air Products and Chemicals, Inc. $APD Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 182,052 shares of the basic materials company's stock after selling 1,854 shares during the period. Air Products and Chemicals comprises approximately 2.5% of RNC Capital Management LLC's portfolio, making the stock its 14th largest position. RNC Capital Management LLC owned 0.08% of Air Products and Chemicals worth $51,350,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC grew its stake in shares of Air Products and Chemicals by 12.2% in the second quarter. West Oak Capital LLC now owns 10,815 shares of the basic materials company's stock worth $3,050,000 after acquiring an additional 1,180 shares in the last quarter. Chapin Davis Inc. grew its stake in shares of Air Products and Chemicals by 16.1% in the second quarter. Chapin Davis Inc. now owns 11,157 shares of the basic materials company's stock worth $3,147,000 after acquiring an additional 1,551 shares in the last quarter. Revisor Wealth Management LLC grew its stake in shares of Air Products and Chemicals by 110.4% in the second quarter. Revisor Wealth Management LLC now owns 3,265 shares of the basic materials company's stock worth $966,000 after acquiring an additional 1,713 shares in the last quarter. Norden Group LLC grew its stake in shares of Air Products and Chemicals by 167.3% in the second quarter. Norden Group LLC now owns 5,800 shares of the basic materials company's stock worth $1,636,000 after acquiring an additional 3,630 shares in the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Air Products and Chemicals by 4.1% in the second quarter. Aberdeen Group plc now owns 113,027 shares of the basic materials company's stock worth $31,903,000 after acquiring an additional 4,492 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Insider Activity at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were 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 of the company's stock, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $252.88 on Thursday. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The stock has a market cap of $56.28 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 5.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. The firm has a fifty day moving average price of $279.48 and a 200 day moving average price of $279.01.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APD shares. UBS Group decreased their price objective on shares of Air Products and Chemicals from $354.00 to $350.00 and set a "buy" rating for the company in a research report on Monday, October 6th. Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. The Goldman Sachs Group set a $335.00 price objective on shares of Air Products and Chemicals in a research report on Wednesday, October 1st. Mizuho lifted their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Citigroup reduced their price target on shares of Air Products and Chemicals from $325.00 to $308.00 and set a "buy" rating for the company in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.