Air Products and Chemicals, Inc. $APD Stock Bought by Ashurst Perkins Coie Trust Co

Key Points

• Ashurst Perkins Coie Trust Co increased its Air Products and Chemicals position by 132,900% in the third quarter, holding 17,290 shares valued at approximately $4.7 million. Institutional investors collectively own 81.66% of APD.
• APD shares opened at $292.42, while the company reported quarterly EPS of $3.47, beating estimates by $0.13, and revenue of $3.16 billion, up 4.6% year over year.
• Air Products declared a quarterly dividend of $1.81 per share, equivalent to $7.24 annually and a 2.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $334.71.

Ashurst Perkins Coie Trust Co increased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 132,900.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,290 shares of the basic materials company's stock after buying an additional 17,277 shares during the quarter. Ashurst Perkins Coie Trust Co's holdings in Air Products and Chemicals were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of APD. State Street Corp lifted its stake in Air Products and Chemicals by 277.4% in the second quarter. State Street Corp now owns 38,161,451 shares of the basic materials company's stock worth $10,597,451,000 after purchasing an additional 28,050,956 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at about $5,370,093,000. Bank of America Corp DE bought a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at about $1,216,976,000. Envestnet Asset Management Inc. boosted its holdings in Air Products and Chemicals by 326.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company's stock valued at $927,010,000 after acquiring an additional 2,563,873 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Air Products and Chemicals during the 2nd quarter valued at about $495,201,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 1.2%

Shares of NYSE:APD opened at $292.42 on Thursday. Air Products and Chemicals, Inc. has a 1 year low of $229.11 and a 1 year high of $314.87. The company has a market cap of $65.12 billion, a PE ratio of -1,329.18, a P/E/G ratio of 2.72 and a beta of 0.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92. The stock's 50-day moving average is $293.95 and its 200 day moving average is $293.21.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the company posted $3.09 EPS. Air Products and Chemicals's quarterly revenue was up 4.6% compared to the same quarter last year. Air Products and Chemicals has set its FY 2026 guidance at 13.390-13.490 EPS and its Q4 2026 guidance at 3.550-3.650 EPS. Sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 13.46 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a dividend of $1.81 per share. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals's dividend payout ratio is currently -3,290.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reduced their price target on Air Products and Chemicals from $330.00 to $312.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings downgraded Air Products and Chemicals from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Sanford C. Bernstein restated an "outperform" rating and issued a $373.00 target price on shares of Air Products and Chemicals in a report on Friday, July 31st. Finally, UBS Group decreased their target price on shares of Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $334.71.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global industrial gases and related equipment company headquartered in Allentown, Pennsylvania. The company supplies atmospheric gases such as oxygen, nitrogen and argon, as well as process and specialty gases including hydrogen, helium, carbon dioxide and syngas.

Air Products serves customers in a range of industries, including refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings include gases delivered through pipelines, bulk and packaged distribution, and on-site production systems, along with gas-processing equipment and technologies used in applications such as hydrogen production, natural gas liquefaction and carbon capture.

Founded in 1940, Air Products operates across North America, Europe, the Middle East, Asia and other international markets.

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD - Free Report).

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.