Bank of New York Mellon Corp Acquires 34,731 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Bank of New York Mellon boosted its Air Products and Chemicals stake by 2.1% in Q1, buying 34,731 more shares and bringing its holdings to 1,712,837 shares worth about $497.6 million.
• Air Products reported better-than-expected quarterly results, with EPS of $3.20 versus the $3.06 estimate and revenue of $3.17 billion, up 8.8% year over year. The company also reaffirmed guidance for FY2026 EPS of 13.00-13.25.
• The company declared a quarterly dividend of $1.81 per share, implying an annualized payout of $7.24 and a yield of about 2.4%. Analysts remain cautiously bullish overall, with a consensus rating of Moderate Buy and a target price of $325.82.

Bank of New York Mellon Corp increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,712,837 shares of the basic materials company's stock after purchasing an additional 34,731 shares during the period. Bank of New York Mellon Corp owned approximately 0.77% of Air Products and Chemicals worth $497,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harmony Asset Management LLC purchased a new stake in Air Products and Chemicals during the 1st quarter valued at about $203,000. Geneos Wealth Management Inc. grew its position in Air Products and Chemicals by 11.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 20,136 shares of the basic materials company's stock worth $5,849,000 after acquiring an additional 2,041 shares during the last quarter. Meridian Management Co. purchased a new position in Air Products and Chemicals in the 1st quarter worth approximately $3,190,000. Members Trust Co purchased a new position in Air Products and Chemicals in the 1st quarter worth approximately $200,000. Finally, Checchi Capital Advisers LLC lifted its position in Air Products and Chemicals by 18.2% in the first quarter. Checchi Capital Advisers LLC now owns 1,998 shares of the basic materials company's stock valued at $580,000 after purchasing an additional 308 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

APD opened at $297.56 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.21 and a current ratio of 1.43. The stock has a market capitalization of $66.26 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73. The stock's 50 day moving average price is $289.80 and its 200-day moving average price is $283.67. Air Products and Chemicals, Inc. has a 52-week low of $229.11 and a 52-week high of $314.87.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $3.20 EPS 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 return on equity of 16.11% and a net margin of 16.91%.The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $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. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 13.22 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be given a $1.81 dividend. This represents a $7.24 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 76.61%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Air Products and Chemicals from $290.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $325.00 to $340.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. BMO Capital Markets raised shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a report on Friday, May 1st. Finally, Berenberg Bank set a $350.00 price objective on shares of Air Products and Chemicals and gave the company a "buy" rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $325.82.

Insider Buying and Selling at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the business's 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 transaction, the chief financial officer owned 14,212 shares in the company, valued at $4,317,037.12. The trade was a 16.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.88% of the company's stock.

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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