Bank of New York Mellon Corp Sells 255,714 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Bank of New York Mellon cut its stake in Air Products and Chemicals by 13.2% in the fourth quarter, selling 255,714 shares and leaving it with 1.68 million shares valued at about $414.5 million.
• Air Products reported better-than-expected quarterly results, with EPS of $3.20 versus estimates of $3.06 and revenue of $3.17 billion versus expectations of $3.07 billion. Revenue rose 8.8% year over year.
• The company also announced a quarterly dividend of $1.81 per share, implying an annualized payout of $7.24 and a dividend yield of 2.6%. Analysts currently have a consensus rating of Moderate Buy with an average price target of $323.12.

Bank of New York Mellon Corp decreased its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,678,106 shares of the basic materials company's stock after selling 255,714 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of Air Products and Chemicals worth $414,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of APD. Brighton Jones LLC boosted its stake in Air Products and Chemicals by 14.5% during the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after acquiring an additional 412 shares during the last quarter. Bison Wealth LLC bought a new position in Air Products and Chemicals during the 4th quarter worth approximately $245,000. Sei Investments Co. boosted its stake 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 during the last quarter. Treasurer of the State of North Carolina boosted its stake 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 during the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Air Products and Chemicals by 52.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 6,474 shares of the basic materials company's stock worth $1,873,000 after acquiring an additional 2,229 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

Shares of APD opened at $283.11 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. Air Products and Chemicals, Inc. has a twelve month low of $229.11 and a twelve month high of $307.96. The firm's 50 day moving average price is $294.06 and its two-hundred day moving average price is $275.32. The firm has a market cap of $63.04 billion, a P/E ratio of 29.96, a PEG ratio of 2.48 and a beta of 0.74.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $3.17 billion for 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% on a year-over-year basis. During the same quarter in the previous 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, analysts forecast that Air Products and Chemicals, Inc. will post 13.2 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, July 1st. Air Products and Chemicals's payout ratio is currently 76.19%.

Analysts Set New Price Targets

Several research firms recently weighed in on APD. UBS Group lifted their price objective on shares of Air Products and Chemicals from $307.00 to $316.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Wells Fargo & Company lifted 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 note on Friday, May 1st. Royal Bank Of Canada lifted their price target on shares of Air Products and Chemicals from $338.00 to $341.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Bank of America lifted their price target on shares of Air Products and Chemicals from $280.00 to $303.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Finally, Citigroup lifted their price target on shares of Air Products and Chemicals from $285.00 to $315.00 and gave the company a "neutral" rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $323.12.

Insider Activity at Air Products and Chemicals

In other news, CFO Melissa N. Schaeffer sold 2,714 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $303.76, for a total value of $824,404.64. Following the sale, the chief financial officer owned 14,212 shares of the company's stock, 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 document filed with the SEC, which can be accessed through the SEC website. 1.88% of the stock is currently owned by corporate insiders.

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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