Boston Trust Walden Corp Sells 9,590 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Boston Trust Walden Corp reduced its stake in Air Products and Chemicals, Inc. by 3.6% during the second quarter, selling 9,590 shares and now owns 253,613 shares valued at approximately $71.5 million.
• Air Products and Chemicals reported a quarterly EPS of $3.09, exceeding analysts' expectations, with revenue of $3.02 billion, a 1.2% increase year-over-year.
• The company will pay a quarterly dividend of $1.79 per share on November 10, 2023, representing an annual yield of 2.7% and a payout ratio of 103.02%.

Boston Trust Walden Corp reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 253,613 shares of the basic materials company's stock after selling 9,590 shares during the quarter. Boston Trust Walden Corp owned 0.11% of Air Products and Chemicals worth $71,534,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of APD. Brighton Jones LLC grew its holdings in shares of 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 purchasing an additional 412 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth $245,000. GAMMA Investing LLC grew its holdings in shares of Air Products and Chemicals by 8.0% during the 1st quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock worth $1,250,000 after purchasing an additional 314 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Air Products and Chemicals by 3.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 7,120 shares of the basic materials company's stock worth $2,100,000 after purchasing an additional 266 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Air Products and Chemicals by 20.9% during the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock worth $473,000 after purchasing an additional 277 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the transaction, the vice president directly owned 8,686 shares in the company, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $260.53 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $57.98 billion, a PE ratio of 37.49, a P/E/G ratio of 5.33 and a beta of 0.83. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14. The stock has a 50-day moving average price of $284.27 and a two-hundred day moving average price of $280.41.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the company earned $3.20 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. 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. Analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Analysts Set New Price Targets

Several analysts recently weighed in on APD shares. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Mizuho raised their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Citigroup reduced their price objective on Air Products and Chemicals from $325.00 to $308.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Finally, Argus raised Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $330.00.

About Air Products and Chemicals

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.

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