Congress Asset Management Co. Has $2.06 Million Position in Air Products and Chemicals, Inc. $APD

Key Points

• Congress Asset Management Co. has reduced its stake in Air Products and Chemicals, Inc. by 14.2%, bringing its holdings to a value of $2.06 million after selling 1,208 shares in the second quarter.
• Various hedge funds, including Ritholtz Wealth Management and Revisor Wealth Management, have increased their investments in Air Products and Chemicals, with increases of 20.9% and 110.4%, respectively.
• The company announced a quarterly dividend of $1.79 per share, reflecting an annualized dividend yield of 2.7%, with a record date for shareholders set for October 1st.

Congress Asset Management Co. reduced its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,293 shares of the basic materials company's stock after selling 1,208 shares during the quarter. Congress Asset Management Co.'s holdings in Air Products and Chemicals were worth $2,057,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of APD. Ritholtz Wealth Management increased its stake in shares of Air Products and Chemicals by 20.9% in the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after buying an additional 277 shares in the last quarter. Chapin Davis Inc. increased its stake in shares of 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. West Oak Capital LLC increased its stake in shares of 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. Revisor Wealth Management LLC increased its stake in shares of Air Products and Chemicals by 110.4% in the second quarter. Revisor Wealth Management LLC now owns 3,265 shares of the basic materials company's stock valued at $966,000 after buying an additional 1,713 shares in the last quarter. Finally, Norden Group LLC increased its stake in shares of Air Products and Chemicals by 167.3% in the second quarter. Norden Group LLC now owns 5,800 shares of the basic materials company's stock valued at $1,636,000 after buying an additional 3,630 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals 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 transaction, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. The trade was a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company's stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $266.74 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The stock has a market cap of $59.36 billion, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 5.95 and a beta of 0.82. The stock's 50-day moving average price is $289.88 and its two-hundred day moving average price is $282.47.

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 firm had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter last year, the business earned $3.20 earnings per share. The company'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. On average, equities analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price for the company. UBS Group raised their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Argus upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday, September 12th. Citigroup raised their price target 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, Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One equities 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and an average price target of $335.07.

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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