CIBC Asset Management Inc Acquires 21,274 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• CIBC Asset Management increased its stake in Air Products and Chemicals by 59.2% in the fourth quarter, buying 21,274 additional shares and bringing its total holdings to 57,224 shares worth about $14.1 million.
• Air Products and Chemicals reported strong quarterly results, with EPS of $3.20 beating estimates and revenue of $3.17 billion topping forecasts; revenue also rose 8.8% year over year.
• The company declared a quarterly dividend of $1.81 per share, implying an annualized yield of about 2.6%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $323.12.

CIBC Asset Management Inc boosted its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 59.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,224 shares of the basic materials company's stock after acquiring an additional 21,274 shares during the period. CIBC Asset Management Inc's holdings in Air Products and Chemicals were worth $14,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dover Advisors LLC raised its position in shares of Air Products and Chemicals by 23.6% in the fourth quarter. Dover Advisors LLC now owns 4,643 shares of the basic materials company's stock valued at $1,147,000 after buying an additional 886 shares in the last quarter. Kesler Norman & Wride LLC increased its stake in Air Products and Chemicals by 2.6% during the 4th quarter. Kesler Norman & Wride LLC now owns 20,071 shares of the basic materials company's stock worth $4,958,000 after acquiring an additional 516 shares during the period. Winthrop Capital Management LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at $80,000. Beto Financial Group LLC acquired a new position in Air Products and Chemicals in the 4th quarter valued at $221,000. Finally, Arcadia Investment Management Corp MI lifted its position in shares of Air Products and Chemicals by 0.6% during the 4th quarter. Arcadia Investment Management Corp MI now owns 21,023 shares of the basic materials company's stock valued at $5,193,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Trading Up 0.3%

APD opened at $283.11 on Friday. Air Products and Chemicals, Inc. has a twelve month low of $229.11 and a twelve month high of $307.96. The company has a fifty day moving average of $294.06 and a 200-day moving average of $275.32. The stock has a market cap of $63.04 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74. The company has a quick ratio of 1.21, a current ratio of 1.43 and a debt-to-equity ratio of 0.95.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.14. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Air Products and Chemicals had a return on equity of 16.11% and a net margin of 16.91%.The company's revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $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, sell-side analysts predict that Air Products and Chemicals, Inc. will post 13.2 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be given a $1.81 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $7.24 annualized dividend and a yield of 2.6%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 76.19%.

Insider Buying and Selling

In other news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $303.76, for a total value of $824,404.64. Following the transaction, the chief financial officer owned 14,212 shares in the company, valued at $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.88% of the company's stock.

Analysts Set New Price Targets

APD has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $315.00 price objective on shares of Air Products and Chemicals in a research note on Monday, May 4th. UBS Group upped their price target on shares of Air Products and Chemicals from $307.00 to $316.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Mizuho set a $345.00 price target on shares of Air Products and Chemicals in a research report on Friday, May 1st. Bank of America boosted their price objective on shares of Air Products and Chemicals from $280.00 to $303.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Finally, Citigroup upped their target price on Air Products and Chemicals from $285.00 to $315.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.12.

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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