Air Products and Chemicals, Inc. $APD Stock Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Air Products and Chemicals stake by 1,100.5% in the third quarter, adding 74,768 shares to own 81,562 shares valued at approximately $22.2 million.
• Other major institutions also expanded or initiated positions, including State Street, BlackRock, Bank of America and Envestnet; institutional investors collectively own 81.66% of APD.
• Air Products reported quarterly EPS of $3.47, exceeding estimates, while revenue rose 4.6% year over year. The company declared a $1.81 quarterly dividend, and analysts maintain a “Moderate Buy” consensus with an average price target of $334.71.

First Citizens Bank & Trust Co. grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1,100.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 81,562 shares of the basic materials company's stock after purchasing an additional 74,768 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Air Products and Chemicals were worth $22,236,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in APD. State Street Corp lifted its position in Air Products and Chemicals by 277.4% during the 2nd quarter. State Street Corp now owns 38,161,451 shares of the basic materials company's stock worth $10,597,451,000 after buying an additional 28,050,956 shares in the last quarter. BlackRock Inc. acquired a new stake in Air Products and Chemicals in the 2nd quarter valued at about $5,370,093,000. Bank of America Corp DE acquired a new stake in Air Products and Chemicals in the 2nd quarter valued at about $1,216,976,000. Envestnet Asset Management Inc. raised its stake in shares of Air Products and Chemicals by 326.7% in the second quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company's stock worth $927,010,000 after acquiring an additional 2,563,873 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Air Products and Chemicals in the second quarter worth about $495,201,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $289.12 on Wednesday. The stock has a market capitalization of $64.38 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.67 and a beta of 0.76. 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 current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average price of $294.01 and a two-hundred day moving average price of $293.22.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The company's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.09 EPS. 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. Equities analysts predict that Air Products and Chemicals, Inc. will post 13.46 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a $1.81 dividend. This represents a $7.24 annualized dividend and a 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 Analyst Weigh In

APD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $320.00 target price on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Morgan Stanley set a $320.00 price target on shares of Air Products and Chemicals in a report on Monday, August 3rd. UBS Group dropped their price objective on shares of Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Barclays began coverage on shares of Air Products and Chemicals in a research report on Monday. They issued an "overweight" rating and a $353.00 price objective for the company. Finally, Weiss Ratings downgraded Air Products and Chemicals from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Air Products and Chemicals presently has an average rating of "Moderate Buy" and an average target price of $334.71.

Air Products and Chemicals Profile

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.

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