Carderock Capital Management Inc. Acquires 1,063 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Carderock Capital Management Inc. has increased its stake in Air Products and Chemicals by 4.2% during Q1, now holding 26,461 shares valued at approximately $7.8 million.
• Air Products reported earnings of $3.09 EPS for the quarter, exceeding expectations, with revenue of $3.02 billion, reflecting a year-over-year growth of 1.2%.
• The company announced a quarterly dividend of $1.79 per share, set to be paid on November 10th, with a current annualized yield of 2.5% and a payout ratio of over 103%.

Carderock Capital Management Inc. increased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,461 shares of the basic materials company's stock after purchasing an additional 1,063 shares during the period. Air Products and Chemicals accounts for 2.1% of Carderock Capital Management Inc.'s holdings, making the stock its 25th biggest holding. Carderock Capital Management Inc.'s holdings in Air Products and Chemicals were worth $7,804,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Ritholtz Wealth Management boosted its position in 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 valued at $473,000 after acquiring an additional 277 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 during the last quarter. Croban bought a new stake in Air Products and Chemicals during the first quarter valued at about $996,000. Electron Capital Partners LLC grew its stake in Air Products and Chemicals by 251.4% in the first quarter. Electron Capital Partners LLC now owns 311,668 shares of the basic materials company's stock valued at $91,917,000 after purchasing an additional 222,980 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Air Products and Chemicals by 227.7% in the fourth quarter. Mackenzie Financial Corp now owns 85,091 shares of the basic materials company's stock worth $24,680,000 after purchasing an additional 59,123 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Price Performance

Shares of APD opened at $287.23 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. The company's fifty day moving average price is $291.81 and its 200-day moving average price is $284.78. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm has a market capitalization of $63.92 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 6.41 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results 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 analyst estimates of $2.95 billion. During the same quarter last year, the business posted $3.20 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. 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. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.5%. Air Products and Chemicals's payout ratio is 103.02%.

Insider Buying and Selling

In related news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the sale, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APD. UBS Group raised their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley initiated coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target on the stock. Citigroup increased their price objective on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Royal Bank Of Canada began coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Profile

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.

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.