Eventide Asset Management LLC Invests $2.53 Million in Air Products and Chemicals, Inc. $APD

Key Points

• Eventide Asset Management LLC acquired 8,593 shares of Air Products and Chemicals, valued at approximately $2.5 million, highlighting growing institutional interest in the company.
• Air Products and Chemicals recently declared a quarterly dividend of $1.79 per share, reflecting a 2.5% yield, although its dividend payout ratio is notably high at 103.02%.

Eventide Asset Management LLC acquired a new position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,593 shares of the basic materials company's stock, valued at approximately $2,527,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. West Branch Capital LLC grew its position in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock valued at $124,000 after acquiring an additional 39 shares during the period. Kathmere Capital Management LLC grew its holdings in Air Products and Chemicals by 2.6% during the first quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock valued at $454,000 after purchasing an additional 39 shares during the period. Connecticut Wealth Management LLC increased its position in Air Products and Chemicals by 1.7% in the first quarter. Connecticut Wealth Management LLC now owns 2,385 shares of the basic materials company's stock worth $703,000 after buying an additional 39 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of Air Products and Chemicals by 1.6% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after buying an additional 40 shares during the period. Finally, Stableford Capital II LLC lifted its position in shares of Air Products and Chemicals by 1.3% during the 1st quarter. Stableford Capital II LLC now owns 3,222 shares of the basic materials company's stock valued at $950,000 after buying an additional 41 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APD. Mizuho lifted their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup lifted their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. UBS Group increased their price target on 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 started coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $335.07.

Insider Transactions at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the sale, the vice president directly owned 8,686 shares of the company's stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals Price Performance

Shares of APD stock traded down $1.84 on Tuesday, reaching $287.07. The company's stock had a trading volume of 440,124 shares, compared to its average volume of 1,253,852. The company has a market capitalization of $63.89 billion, a price-to-earnings ratio of 41.30, a price-to-earnings-growth ratio of 6.47 and a beta of 0.82. The stock's fifty day simple moving average is $291.84 and its 200-day simple moving average is $284.74. 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.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period last year, the company posted $3.20 EPS. The business's revenue was up 1.2% on a year-over-year basis. 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. Analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, October 1st. 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.