Bank of Hawaii Trims Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Bank of Hawaii reduced its stake in Air Products and Chemicals, Inc. by 19.8% during the first quarter, leaving it with a total of 3,628 shares valued at approximately $1,070,000.
• Institutional investors collectively own 81.66% of the company's stock, with notable increases in stakes from firms like Dodge & Cox and Bank of America.
• The company recently announced a quarterly dividend of $1.79 per share, which translates to an annual yield of 2.4%, despite a payout ratio exceeding 100%.

Bank of Hawaii cut its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,628 shares of the basic materials company's stock after selling 893 shares during the quarter. Bank of Hawaii's holdings in Air Products and Chemicals were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of Air Products and Chemicals by 31.5% during the first quarter. Dodge & Cox now owns 8,759,722 shares of the basic materials company's stock worth $2,583,417,000 after acquiring an additional 2,096,568 shares during the last quarter. Bank of America Corp DE raised its position 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 valued at $1,574,670,000 after purchasing an additional 3,062,157 shares during the last quarter. Mantle Ridge LP acquired a new stake in Air Products and Chemicals during the 4th quarter worth $1,191,344,000. Northern Trust Corp grew its position in Air Products and Chemicals by 4.6% during 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 purchasing an additional 156,419 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in Air Products and Chemicals by 1.4% in the first quarter. Raymond James Financial Inc. now owns 3,096,277 shares of the basic materials company's stock valued at $913,154,000 after purchasing an additional 43,695 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APD. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price for the company. Citigroup upped their price objective on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. UBS Group increased their price objective on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Barclays cut their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Trading Up 1.9%

NYSE:APD opened at $299.0190 on Monday. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. The stock has a fifty day moving average price of $288.74 and a two-hundred day moving average price of $286.34. The stock has a market capitalization of $66.55 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 6.68 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates 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 revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $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. As a group, sell-side analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is presently 103.02%.

Insiders Place Their Bets

In other news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the sale, the vice president directly owned 8,686 shares in the company, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.