Concord Asset Management LLC VA Acquires Shares of 1,248 Air Products and Chemicals, Inc. $APD

Key Points

• Concord Asset Management LLC VA acquired 1,248 shares of Air Products and Chemicals, valued at approximately $352,000, marking a new position for the firm during the 2nd quarter.
• Air Products and Chemicals reported quarterly earnings of $3.09 per share, exceeding analyst expectations, alongside a revenue of $3.02 billion for the quarter.
• The company declared a quarterly dividend of $1.79 per share, with an annual yield of 2.7% scheduled for payment on November 10th.

Concord Asset Management LLC VA bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,248 shares of the basic materials company's stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ritholtz Wealth Management boosted its position in Air Products and Chemicals by 20.9% in 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. West Oak Capital LLC increased its holdings in Air Products and Chemicals by 12.2% in the second quarter. West Oak Capital LLC now owns 10,815 shares of the basic materials company's stock valued at $3,050,000 after buying an additional 1,180 shares in the last quarter. Chapin Davis Inc. increased its holdings in Air Products and Chemicals by 16.1% in the second quarter. Chapin Davis Inc. now owns 11,157 shares of the basic materials company's stock valued at $3,147,000 after buying an additional 1,551 shares in the last quarter. Revisor Wealth Management LLC grew its position in shares of Air Products and Chemicals by 110.4% during the 2nd quarter. Revisor Wealth Management LLC now owns 3,265 shares of the basic materials company's stock valued at $966,000 after acquiring an additional 1,713 shares during the period. Finally, Norden Group LLC grew its position in shares of Air Products and Chemicals by 167.3% during the 2nd quarter. Norden Group LLC now owns 5,800 shares of the basic materials company's stock valued at $1,636,000 after acquiring an additional 3,630 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Air Products and Chemicals

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

Air Products and Chemicals Price Performance

APD stock opened at $260.53 on Tuesday. 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 business has a 50 day simple moving average of $284.27 and a 200-day simple moving average of $280.41. The firm has a market capitalization of $57.98 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 5.33 and a beta of 0.83. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share 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 for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The firm's revenue for the quarter 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. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on APD shares. Argus upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating in a research report on Friday, September 12th. Wells Fargo & Company boosted their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Air Products and Chemicals in a report on Wednesday, October 8th. Citigroup dropped their target price on shares of Air Products and Chemicals from $325.00 to $308.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $330.00.

Air Products and Chemicals Company 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.

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