Dodge & Cox Boosts Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• Dodge & Cox increased its ownership in Air Products and Chemicals by 31.5%, acquiring an additional 2,096,568 shares in the first quarter, bringing their total to approximately $2.58 billion.
• Air Products and Chemicals reported $3.09 earnings per share for the last quarter, exceeding analysts' expectations of $2.99, with a revenue of $3.02 billion compared to an estimate of $2.95 billion.
• The firm announced a quarterly dividend of $1.79 per share with a projected yield of 2.4%, indicating a payout ratio of 103.02%.

Dodge & Cox boosted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 31.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,759,722 shares of the basic materials company's stock after acquiring an additional 2,096,568 shares during the period. Air Products and Chemicals accounts for 1.5% of Dodge & Cox's portfolio, making the stock its 26th largest holding. Dodge & Cox owned approximately 3.94% of Air Products and Chemicals worth $2,583,417,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of APD. Mantle Ridge LP purchased a new position in Air Products and Chemicals during the fourth quarter valued at $1,191,344,000. Bank of America Corp DE grew its stake in shares of Air Products and Chemicals by 129.4% in the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Air Products and Chemicals by 31,752.0% in the 1st quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock worth $368,612,000 after buying an additional 1,245,947 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Air Products and Chemicals by 159.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock worth $508,962,000 after buying an additional 1,059,970 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Air Products and Chemicals by 110.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,441,752 shares of the basic materials company's stock worth $425,202,000 after buying an additional 756,780 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Trading Up 1.9%

Shares of APD opened at $299.0190 on Friday. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company has a 50-day moving average of $288.74 and a 200 day moving average of $286.96. The firm has a market capitalization of $66.55 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 6.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $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. On average, research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price for the company. Mizuho raised their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Barclays lowered their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. 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 analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $335.07.

Insider Buying and Selling

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction dated 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 trade represents 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 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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