Public Sector Pension Investment Board Purchases 2,485 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• The Public Sector Pension Investment Board increased its stake in Air Products and Chemicals by 8.9%, acquiring an additional 2,485 shares, bringing its total to 30,333 shares worth approximately $8.95 million.
• Air Products announced a quarterly dividend of $1.79 per share, with an annualized yield of 2.5%, and a payout ratio of 103.02%.
• The company's Q2 earnings exceeded estimates, reporting an EPS of $3.09 and revenue of $3.02 billion, marking a year-over-year growth of 1.2%.

Public Sector Pension Investment Board grew its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 8.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,333 shares of the basic materials company's stock after buying an additional 2,485 shares during the quarter. Public Sector Pension Investment Board's holdings in Air Products and Chemicals were worth $8,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Staley Capital Advisers Inc. grew its holdings in shares of Air Products and Chemicals by 0.6% during the first quarter. Staley Capital Advisers Inc. now owns 17,819 shares of the basic materials company's stock valued at $5,255,000 after buying an additional 115 shares during the last quarter. Linscomb Wealth Inc. grew its holdings in shares of Air Products and Chemicals by 6.0% during the first quarter. Linscomb Wealth Inc. now owns 19,613 shares of the basic materials company's stock valued at $5,784,000 after buying an additional 1,105 shares during the last quarter. SouthState Corp grew its holdings in shares of Air Products and Chemicals by 13.7% during the first quarter. SouthState Corp now owns 855 shares of the basic materials company's stock valued at $252,000 after buying an additional 103 shares during the last quarter. Scissortail Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 0.6% during the first quarter. Scissortail Wealth Management LLC now owns 14,757 shares of the basic materials company's stock valued at $4,352,000 after buying an additional 84 shares during the last quarter. Finally, Strengthening Families & Communities LLC grew its holdings in shares of Air Products and Chemicals by 35.5% during the first quarter. Strengthening Families & Communities LLC now owns 435 shares of the basic materials company's stock valued at $128,000 after buying an additional 114 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Victoria Brifo sold 1,359 shares of the business's 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 sale, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD traded up $2.1250 during mid-day trading on Tuesday, reaching $290.2650. The company had a trading volume of 224,612 shares, compared to its average volume of 1,306,628. The company's 50-day moving average price is $287.79 and its 200-day moving average price is $287.47. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 6.48 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm posted $3.20 earnings per share. The company's quarterly 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 research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. Air Products and Chemicals's payout ratio is 103.02%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. UBS Group boosted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Citigroup boosted their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Mizuho boosted their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals 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.