Fideuram Intesa Sanpaolo Private Banking S.P.A. Reduces Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• Fideuram Intesa Sanpaolo Private Banking cut its stake in Air Products and Chemicals by 98.3% in the first quarter, leaving it with 630 shares worth about $183,000.
• Air Products and Chemicals reported better-than-expected quarterly results, with EPS of $3.20 versus $3.06 expected and revenue of $3.17 billion, up 8.8% year over year.
• The company also announced a quarterly dividend of $1.81 per share, payable August 10, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $324.82.

Fideuram Intesa Sanpaolo Private Banking S.P.A. trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 98.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 630 shares of the basic materials company's stock after selling 37,388 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Air Products and Chemicals were worth $183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $1,063,906,000. Capital International Investors lifted its position in Air Products and Chemicals by 44.2% in the fourth quarter. Capital International Investors now owns 12,792,580 shares of the basic materials company's stock valued at $3,160,023,000 after buying an additional 3,922,567 shares during the last quarter. Viking Global Investors LP purchased a new position in Air Products and Chemicals during the second quarter worth about $607,601,000. Clearbridge Investments LLC raised its stake in shares of Air Products and Chemicals by 70.2% in the 4th quarter. Clearbridge Investments LLC now owns 2,694,659 shares of the basic materials company's stock valued at $665,609,000 after acquiring an additional 1,111,378 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Air Products and Chemicals by 644.6% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,031,306 shares of the basic materials company's stock worth $281,258,000 after acquiring an additional 892,793 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Insider Buying and Selling at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $303.76, for a total transaction of $824,404.64. Following the transaction, the chief financial officer owned 14,212 shares of the company's stock, valued at $4,317,037.12. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.88% of the company's stock.

Air Products and Chemicals Stock Down 0.2%

APD opened at $313.55 on Monday. The business's 50-day simple moving average is $290.10 and its 200-day simple moving average is $280.16. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.21 and a current ratio of 1.43. Air Products and Chemicals, Inc. has a one year low of $229.11 and a one year high of $314.28. The stock has a market capitalization of $69.82 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 2.85 and a beta of 0.73.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.06 by $0.14. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. Air Products and Chemicals had a net margin of 16.91% and a return on equity of 16.11%. Air Products and Chemicals's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 EPS. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. Analysts anticipate that Air Products and Chemicals, Inc. will post 13.22 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, August 10th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $1.81 per share. The ex-dividend date is Wednesday, July 1st. This represents a $7.24 annualized dividend and a dividend yield of 2.3%. Air Products and Chemicals's dividend payout ratio is 76.61%.

Analyst Ratings Changes

Several research firms have recently commented on APD. Bank of America lifted their price objective on Air Products and Chemicals from $280.00 to $303.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on Air Products and Chemicals from $310.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Mizuho set a $345.00 target price on Air Products and Chemicals in a research report on Friday, May 1st. Sanford C. Bernstein reiterated an "outperform" rating and set a $344.00 price target on shares of Air Products and Chemicals in a research note on Wednesday. Finally, Citigroup increased their price target on shares of Air Products and Chemicals from $285.00 to $315.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $324.82.

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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