Air Products and Chemicals, Inc. $APD Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Air Products and Chemicals by 3.3%, selling 1,922 shares, and now holds 55,486 shares worth approximately $16.36 million.
• Air Products and Chemicals reported earnings of $3.09 per share for the last quarter, exceeding analysts' expectations, and generated revenue of $3.02 billion, a 1.2% increase year-over-year.
• The company announced a quarterly dividend of $1.79, with a yield of 2.4%, despite a dividend payout ratio of 103.02%. The dividend is set to be paid on November 10th to investors of record by October 1st.

Corebridge Financial Inc. lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,486 shares of the basic materials company's stock after selling 1,922 shares during the period. Corebridge Financial Inc.'s holdings in Air Products and Chemicals were worth $16,364,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $715,000. Ritholtz Wealth Management raised its stake in shares of 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 worth $473,000 after buying an additional 277 shares during the period. Mantle Ridge LP acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth approximately $1,191,344,000. GAMMA Investing LLC raised 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 buying an additional 314 shares during the period. Finally, Focus Partners Wealth raised its stake in shares of Air Products and Chemicals by 4.1% during the 4th quarter. Focus Partners Wealth now owns 62,981 shares of the basic materials company's stock worth $18,267,000 after buying an additional 2,453 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 on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the transaction, the vice president directly owned 8,686 shares in the company, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APD. 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 for the company. UBS Group increased their price objective on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Mizuho increased their price objective on 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. Wells Fargo & Company increased their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Trading Up 0.1%

NYSE:APD traded up $0.37 during trading hours on Thursday, hitting $294.96. The company had a trading volume of 541,733 shares, compared to its average volume of 871,199. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $290.14 and a 200 day moving average of $286.24. The company has a market cap of $65.64 billion, a P/E ratio of 42.44, a P/E/G ratio of 6.57 and a beta of 0.81. 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 issued its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 EPS. 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. Sell-side analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share 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. Stockholders 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 dividend yield of 2.4%. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

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.