Erste Asset Management GmbH Sells 2,063 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Erste Asset Management GmbH reduced its stake in Air Products and Chemicals, selling 2,063 shares during the first quarter, bringing their total ownership to 55,654 shares valued at $16.39 million.
• Multiple hedge funds adjusted their positions in Air Products, with significant changes including a 3,560.0% increase in holdings by Caitong International Asset Management Co. Ltd.
• Recent analyst ratings for Air Products and Chemicals reflect optimism, with an average target price of $335.07 and a consensus rating of "Moderate Buy."

Erste Asset Management GmbH trimmed its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,654 shares of the basic materials company's stock after selling 2,063 shares during the quarter. Erste Asset Management GmbH's holdings in Air Products and Chemicals were worth $16,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in Air Products and Chemicals during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in shares of Air Products and Chemicals during the first quarter worth $27,000. Citizens National Bank Trust Department raised its stake in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company's stock valued at $49,000 after buying an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in Air Products and Chemicals by 3,560.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 183 shares of the basic materials company's stock valued at $54,000 after acquiring an additional 178 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APD. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada started coverage on 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. UBS Group boosted their price target 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 raised their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Barclays dropped their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of "Moderate Buy" and an average target price of $335.07.

Insider Buying and Selling at Air Products and Chemicals

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

Air Products and Chemicals Trading Up 0.6%

NYSE APD opened at $290.0110 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The business has a 50 day moving average price of $287.95 and a 200-day moving average price of $287.49. The company has a market cap of $64.54 billion, a price-to-earnings ratio of 41.73, a P/E/G ratio of 6.43 and a beta of 0.81.

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 company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period last year, the business earned $3.20 EPS. Air Products and Chemicals's quarterly 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. As a group, equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Air Products and Chemicals's payout ratio is presently 103.02%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.