Armstrong Henry H Associates Inc. Acquires 5,185 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Armstrong Henry H Associates increased its Air Products and Chemicals stake by 10.2% in the second quarter, adding 5,185 shares for a total of 55,789 shares valued at approximately $16.36 million. Institutional investors collectively own 81.66% of APD.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $332.76. Recent targets range from $320 to $355.
• Air Products reported quarterly EPS of $3.47, beating estimates, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81 per share, representing a 2.4% annualized yield.

Armstrong Henry H Associates Inc. increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,789 shares of the basic materials company's stock after purchasing an additional 5,185 shares during the period. Air Products and Chemicals accounts for about 1.6% of Armstrong Henry H Associates Inc.'s holdings, making the stock its 10th biggest holding. Armstrong Henry H Associates Inc.'s holdings in Air Products and Chemicals were worth $16,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Air Products and Chemicals by 14.5% in the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after buying an additional 412 shares in the last quarter. Bison Wealth LLC purchased a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $245,000. Sei Investments Co. lifted its position in Air Products and Chemicals by 197.6% during the 2nd quarter. Sei Investments Co. now owns 281,861 shares of the basic materials company's stock worth $79,498,000 after acquiring an additional 187,142 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Air Products and Chemicals by 2.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 103,777 shares of the basic materials company's stock worth $29,271,000 after acquiring an additional 2,171 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in Air Products and Chemicals by 52.5% in the second quarter. Diversify Advisory Services LLC now owns 6,474 shares of the basic materials company's stock valued at $1,873,000 after acquiring an additional 2,229 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Air Products and Chemicals from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 31st. Morgan Stanley set a $320.00 target price on shares of Air Products and Chemicals in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Mizuho lifted their price target on shares of Air Products and Chemicals from $345.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. One 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $332.76.

Air Products and Chemicals Price Performance

APD stock opened at $299.66 on Friday. The stock's 50 day moving average is $290.41 and its two-hundred day moving average is $287.65. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $314.87. The company has a market capitalization of $66.73 billion, a PE ratio of -1,362.09, a P/E/G ratio of 2.56 and a beta of 0.73. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01.

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 EPS for the quarter, beating the consensus estimate of $3.34 by $0.13. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%.The company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the business posted $3.09 EPS. The business's revenue was up 4.6% on a year-over-year basis. 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 predict that Air Products and Chemicals, Inc. will post 13.45 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $1.81 per share. 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 is -3,290.91%.

About Air Products and Chemicals

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.

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source