Columbia Asset Management Reduces Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Columbia Asset Management reduced its stake in Air Products and Chemicals (APD) by 51.8%, ending with 860 shares valued at approximately $243,000.
• Air Products reported quarterly earnings of $3.09 per share, exceeding estimates of $2.99, with revenue of $3.02 billion for the quarter.
• The company announced a quarterly dividend of $1.79 per share, with an annualized dividend yield of 2.6% and a payout ratio of 103.02%.

Columbia Asset Management decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 51.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 860 shares of the basic materials company's stock after selling 925 shares during the quarter. Columbia Asset Management's holdings in Air Products and Chemicals were worth $243,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Air Products and Chemicals in the first quarter valued at approximately $25,000. Saudi Central Bank acquired a new position in shares of Air Products and Chemicals during the first quarter worth $26,000. Cheviot Value Management LLC acquired a new position in shares of Air Products and Chemicals during the first quarter worth $27,000. Citizens National Bank Trust Department increased its position in shares of Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Air Products and Chemicals in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $272.82 on Wednesday. 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 stock has a market cap of $60.72 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 6.03 and a beta of 0.82. 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 fifty day moving average price of $288.90 and a 200 day moving average price of $282.18.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly 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 net margin of 12.86% and a return on equity of 15.11%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business posted $3.20 earnings per share. The business'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. As a group, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is 103.02%.

Analyst Ratings Changes

Several brokerages have weighed in on APD. UBS Group increased their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. Mizuho raised their price target on shares of 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. Argus upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $335.07.

Insider Activity

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 shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the transaction, the vice president owned 8,686 shares of the company's stock, valued at approximately $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 SEC, which is available at the SEC website. Insiders own 0.41% of the company's stock.

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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