Wedge Capital Management L L P NC Sells 2,198 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Wedge Capital Management L L P NC reduced its stake in Air Products and Chemicals by 7.6%, selling 2,198 shares and leaving them with 26,827 shares valued at approximately $7.57 million.
• Several institutional investors have recently increased their stakes in Air Products, with CX Institutional boosting its holdings by 8.3% and Global X Japan increasing theirs by 21.2%.
• Analysts have generally rated Air Products and Chemicals as a Moderate Buy, with a consensus price target of $335.07, reflecting a positive outlook despite varying ratings among firms.

Wedge Capital Management L L P NC cut its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,827 shares of the basic materials company's stock after selling 2,198 shares during the quarter. Wedge Capital Management L L P NC's holdings in Air Products and Chemicals were worth $7,567,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $25,000. Saudi Central Bank bought a new position in Air Products and Chemicals in the 1st quarter worth approximately $26,000. Cheviot Value Management LLC bought a new position in Air Products and Chemicals in the 1st quarter worth approximately $27,000. Citizens National Bank Trust Department grew its holdings in Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in Air Products and Chemicals in the 1st quarter worth approximately $37,000. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on APD shares. Mizuho increased their target price on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target for the company. Wells Fargo & Company increased their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Citigroup increased their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Argus upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Buying and Selling at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction that occurred on 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 transaction, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock traded down $9.40 during trading on Tuesday, hitting $278.09. 1,007,334 shares of the stock were exchanged, compared to its average volume of 1,234,422. 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 capitalization of $61.89 billion, a price-to-earnings ratio of 40.04, a price-to-earnings-growth ratio of 6.47 and a beta of 0.82. The company has a fifty day moving average price of $291.56 and a 200-day moving average price of $283.16. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93.

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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business posted $3.20 EPS. 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, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is 103.02%.

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.