Bank of Nova Scotia Cuts Stock Position in Air Products and Chemicals, Inc. $APD

Bank of Nova Scotia decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 22.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,086 shares of the basic materials company's stock after selling 7,003 shares during the period. Bank of Nova Scotia's holdings in Air Products and Chemicals were worth $7,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

APD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $320.00 price objective on shares of Air Products and Chemicals in a report on Monday, August 3rd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $373.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 31st. UBS Group raised their price target on shares of Air Products and Chemicals from $330.00 to $336.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Wells Fargo & Company boosted their price target on shares of 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. Finally, Royal Bank Of Canada raised their target price on shares of Air Products and Chemicals from $358.00 to $360.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $332.76.

Air Products and Chemicals Stock Up 0.3%

Shares of APD opened at $306.14 on Tuesday. The company's 50-day moving average price is $296.28 and its 200 day moving average price is $291.09. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $314.87. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The firm has a market cap of $68.17 billion, a P/E ratio of -1,391.54, a price-to-earnings-growth ratio of 2.65 and a beta of 0.73.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.13. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the firm posted $3.09 earnings per share. Air Products and Chemicals's revenue was up 4.6% compared to the same quarter last year. 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. On average, sell-side analysts forecast that Air Products and Chemicals, Inc. will post 13.45 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

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