Allstate Corp Trims Position in Air Products and Chemicals, Inc. $APD

Allstate Corp lowered its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 22.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,681 shares of the basic materials company's stock after selling 5,245 shares during the quarter. Allstate Corp's holdings in Air Products and Chemicals were worth $5,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Lloyd Advisory Services LLC. purchased a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $25,000. Evolution Wealth Management Inc. acquired a new stake in shares of Air Products and Chemicals in the first quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in Air Products and Chemicals in the fourth quarter valued at $25,000. Mcguire Capital Advisors Inc. purchased a new position in Air Products and Chemicals in the fourth quarter valued at $25,000. Finally, Motiv8 Investments LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth $26,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APD shares. JPMorgan Chase & Co. lifted their price target on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Citigroup increased their price objective on shares of Air Products and Chemicals from $315.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Evercore reaffirmed an "outperform" rating and set a $342.00 price objective on shares of Air Products and Chemicals in a research report on Friday, July 10th. Mizuho increased their price objective on Air Products and Chemicals from $345.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $332.76.

Air Products and Chemicals Trading Up 0.1%

NYSE APD opened at $305.55 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a market cap of $68.04 billion, a PE ratio of -1,388.86, a P/E/G ratio of 2.65 and a beta of 0.73. Air Products and Chemicals, Inc. has a one year low of $229.11 and a one year high of $314.87. The firm's fifty day moving average is $295.82 and its two-hundred day moving average is $290.89.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.34 by $0.13. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%.The business's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $3.09 earnings per share. 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. Analysts expect that Air Products and Chemicals, Inc. will post 13.45 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be given a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is -3,290.91%.

Air Products and Chemicals Company 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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