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

Key Points

• Allstate Corp more than doubled its stake in Air Products and Chemicals in the fourth quarter, increasing holdings by 104.4% to 16,523 shares valued at about $4.08 million.
• Air Products and Chemicals reported better-than-expected quarterly results, posting EPS of $3.20 versus estimates of $3.06 and revenue of $3.17 billion versus $3.07 billion expected.
• The company also declared a quarterly dividend of $1.81 per share, and analysts currently have a consensus Moderate Buy rating with an average price target of $323.12.

Allstate Corp grew its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 104.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,523 shares of the basic materials company's stock after buying an additional 8,440 shares during the quarter. Allstate Corp's holdings in Air Products and Chemicals were worth $4,082,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in APD. Holos Integrated Wealth LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its stake in Air Products and Chemicals by 3,233.3% during the fourth quarter. Richardson Financial Services Inc. now owns 100 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 97 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new stake in Air Products and Chemicals during the fourth quarter valued at $25,000. Financial Life Planners purchased a new stake in Air Products and Chemicals during the third quarter valued at $30,000. Finally, Caitlin John LLC purchased a new stake in Air Products and Chemicals during the third quarter valued at $30,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, CFO Melissa N. Schaeffer sold 2,714 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $303.76, for a total transaction of $824,404.64. Following the completion of the sale, the chief financial officer directly owned 14,212 shares of the company's stock, valued at approximately $4,317,037.12. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.88% of the company's stock.

Air Products and Chemicals Stock Down 1.3%

NYSE:APD opened at $285.79 on Thursday. Air Products and Chemicals, Inc. has a 1-year low of $229.11 and a 1-year high of $307.96. The company has a 50-day moving average of $294.33 and a 200 day moving average of $274.47. The firm has a market cap of $63.64 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 1.21.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $3.20 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.14. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. Air Products and Chemicals had a net margin of 16.91% and a return on equity of 16.11%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 13.2 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Wednesday, July 1st will be given a dividend of $1.81 per share. This represents a $7.24 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Air Products and Chemicals's dividend payout ratio is presently 76.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Air Products and Chemicals from $307.00 to $316.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $315.00 price objective on shares of Air Products and Chemicals in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Jefferies Financial Group boosted their price objective on shares of Air Products and Chemicals from $300.00 to $313.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average target price of $323.12.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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