Allstate Corp Grows Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• Allstate Corp increased its holdings in Air Products and Chemicals by 21.4%, acquiring an additional 1,413 shares in the first quarter, bringing their total to 8,021 shares valued at $2,366,000.
• Investors showed increased interest as multiple institutional investors added to their stakes, with Caitong International Asset Management raising its position by 3,560% during the same period.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, representing an annualized dividend yield of 2.4% with a payout ratio of 103.02%.

Allstate Corp lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,021 shares of the basic materials company's stock after purchasing an additional 1,413 shares during the period. Allstate Corp's holdings in Air Products and Chemicals were worth $2,366,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares during the period. Mantle Ridge LP bought a new position in Air Products and Chemicals in the 4th quarter worth approximately $1,191,344,000. Northern Trust Corp boosted its holdings in Air Products and Chemicals by 4.6% in the 4th quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock worth $1,039,259,000 after buying an additional 156,419 shares during the period. Raymond James Financial Inc. boosted its holdings in Air Products and Chemicals by 1.4% in the 1st quarter. Raymond James Financial Inc. now owns 3,096,277 shares of the basic materials company's stock worth $913,154,000 after buying an additional 43,695 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Air Products and Chemicals by 1.5% in the 4th quarter. Royal Bank of Canada now owns 2,397,210 shares of the basic materials company's stock worth $695,287,000 after buying an additional 34,676 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APD shares. Barclays cut 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. Mizuho raised their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, July 14th. UBS Group raised their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. One investment 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's stock. Based on data from MarketBeat, Air Products and Chemicals has an average rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Buying and Selling

In related news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction 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 transaction, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock traded up $0.78 on Wednesday, hitting $294.75. 542,672 shares of the company traded hands, compared to its average volume of 1,284,561. The firm's 50-day simple moving average is $289.35 and its 200 day simple moving average is $286.29. 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 company has a market cap of $65.60 billion, a P/E ratio of 42.41, a P/E/G ratio of 6.56 and a beta of 0.81. Air Products and Chemicals, Inc. has a 12-month low of $243.69 and a 12-month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $3.20 EPS. 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. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is presently 103.02%.

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.