Dodge & Cox Has $2.46 Billion Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Dodge & Cox increased its Q3 stake in Air Products and Chemicals to 9,004,892 shares — roughly $2.46 billion, or 4.05% of the company, after buying 183,492 shares.
• Director Ridge Lp Mantle sold 70,175 shares on Feb. 12 at an average $284.21 for about $19.94 million, cutting their position by 42.87%.
• Air Products recently beat quarterly EPS estimates ($3.16 vs. $3.04), set FY2026 guidance of 12.85–13.15 EPS, and raised its quarterly dividend to $1.81 (annualized $7.24, ~2.5% yield).

Dodge & Cox lifted its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,004,892 shares of the basic materials company's stock after buying an additional 183,492 shares during the quarter. Dodge & Cox owned about 4.05% of Air Products and Chemicals worth $2,455,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. YANKCOM Partnership grew its position in Air Products and Chemicals by 1.3% in the second quarter. YANKCOM Partnership now owns 2,805 shares of the basic materials company's stock worth $791,000 after acquiring an additional 35 shares in the last quarter. Sage Capital Advisors llc raised its holdings in shares of Air Products and Chemicals by 0.3% during the 3rd quarter. Sage Capital Advisors llc now owns 14,930 shares of the basic materials company's stock valued at $4,072,000 after purchasing an additional 38 shares in the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Air Products and Chemicals by 3.7% in the 3rd quarter. Journey Strategic Wealth LLC now owns 1,085 shares of the basic materials company's stock valued at $296,000 after purchasing an additional 39 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Air Products and Chemicals by 1.0% in the third quarter. Essex Financial Services Inc. now owns 4,239 shares of the basic materials company's stock worth $1,156,000 after purchasing an additional 40 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in Air Products and Chemicals by 1.1% in the second quarter. Cape Investment Advisory Inc. now owns 3,611 shares of the basic materials company's stock worth $1,019,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

Insider Transactions at Air Products and Chemicals

In other news, Director Ridge Lp Mantle sold 70,175 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $284.21, for a total transaction of $19,944,436.75. Following the transaction, the director owned 93,499 shares in the company, valued at approximately $26,573,350.79. The trade was a 42.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by corporate insiders.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $287.79 on Friday. The company has a market cap of $64.08 billion, a price-to-earnings ratio of -190.59, a PEG ratio of 2.85 and a beta of 0.88. The business has a 50 day moving average price of $273.37 and a 200 day moving average price of $266.21. The company has a quick ratio of 1.23, a current ratio of 1.46 and a debt-to-equity ratio of 0.97. Air Products and Chemicals, Inc. has a twelve month low of $229.11 and a twelve month high of $301.11.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The basic materials company reported $3.16 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.12. Air Products and Chemicals had a positive return on equity of 15.77% and a negative net margin of 2.73%.The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company earned $2.86 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Air Products and Chemicals has set its Q2 2026 guidance at 2.950-3.100 EPS and its FY 2026 guidance at 12.850-13.150 EPS. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Wednesday, April 1st will be issued a $1.81 dividend. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.79. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $7.24 dividend on an annualized basis and a yield of 2.5%. Air Products and Chemicals's payout ratio is currently -474.17%.

Analyst Ratings Changes

Several research firms have weighed in on APD. Mizuho cut their target price on Air Products and Chemicals from $300.00 to $290.00 and set an "outperform" rating on the stock in a report on Thursday, December 18th. BMO Capital Markets reiterated a "market perform" rating and set a $282.00 price target on shares of Air Products and Chemicals in a research note on Monday, February 2nd. Bank of America raised Air Products and Chemicals from an "underperform" rating to a "neutral" rating and set a $275.00 price objective on the stock in a research note on Thursday, January 8th. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Finally, UBS Group upped their target price on Air Products and Chemicals from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Monday, February 2nd. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $299.12.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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