BlackRock Inc. Acquires New Position in Air Products and Chemicals, Inc. $APD

Key Points

• BlackRock acquired 18.3 million shares of Air Products and Chemicals in the second quarter, worth approximately $5.37 billion and representing about 8.23% of the company. Institutional investors collectively own 81.66% of APD.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $332.76, above the stock’s reported price of $300.68.
• Air Products exceeded quarterly earnings expectations with adjusted EPS of $3.47 versus $3.34 forecast, while revenue rose 4.6% year over year. The company also declared a quarterly dividend of $1.81, equal to a $7.24 annualized payout and a 2.4% yield.

BlackRock Inc. bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,316,711 shares of the basic materials company's stock, valued at approximately $5,370,093,000. BlackRock Inc. owned about 8.23% of Air Products and Chemicals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of APD. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Air Products and Chemicals by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 486,719 shares of the basic materials company's stock worth $121,909,000 after buying an additional 23,760 shares during the last quarter. Castle Rock Wealth Management LLC purchased a new stake in Air Products and Chemicals in the 4th quarter valued at about $1,649,000. S&CO Inc. acquired a new position in shares of Air Products and Chemicals during the 2nd quarter valued at about $27,733,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Air Products and Chemicals by 22.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,511 shares of the basic materials company's stock worth $10,007,000 after acquiring an additional 7,485 shares during the period. Finally, Staley Capital Advisers Inc. lifted its holdings in shares of Air Products and Chemicals by 108.2% during the 4th quarter. Staley Capital Advisers Inc. now owns 144,032 shares of the basic materials company's stock worth $35,579,000 after acquiring an additional 74,868 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APD shares. Wells Fargo & Company boosted their target price on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Morgan Stanley set a $320.00 price target on shares of Air Products and Chemicals in a report on Monday, August 3rd. Evercore reissued an "outperform" rating and set a $342.00 price objective on shares of Air Products and Chemicals in a research note on Friday, July 10th. Finally, Berenberg Bank set a $350.00 price objective on Air Products and Chemicals and gave the stock a "buy" rating in a report on Monday, April 20th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $332.76.

Air Products and Chemicals Price Performance

APD stock opened at $300.68 on Tuesday. The firm has a market cap of $66.96 billion, a P/E ratio of -1,366.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.08. Air Products and Chemicals, Inc. has a 1 year low of $229.11 and a 1 year high of $314.87. The stock has a 50-day simple moving average of $293.96 and a 200-day simple moving average of $289.79.

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

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Thursday, October 1st will be paid a $1.81 dividend. The ex-dividend date is Thursday, October 1st. This represents a $7.24 annualized dividend and a dividend yield of 2.4%. 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.

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