Harrington Investments INC Cuts Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Harrington Investments INC reduced its stake in Air Products and Chemicals by 20.4%, holding 7,412 shares valued at approximately $2.09 million.
• A number of research analysts have issued reports indicating a consensus rating of "Moderate Buy" for Air Products and Chemicals, with a price target averaging $335.07.
• The company declared a quarterly dividend of $1.79 per share, representing a 2.5% yield, with a payout ratio currently at 103.02%.

Harrington Investments INC trimmed its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 20.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,412 shares of the basic materials company's stock after selling 1,901 shares during the period. Harrington Investments INC's holdings in Air Products and Chemicals were worth $2,091,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ritholtz Wealth Management increased its stake in shares of Air Products and Chemicals by 20.9% in the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after purchasing an additional 277 shares during the last quarter. Woodline Partners LP boosted its position in shares of Air Products and Chemicals by 40.8% during the 1st quarter. Woodline Partners LP now owns 18,796 shares of the basic materials company's stock valued at $5,543,000 after purchasing an additional 5,445 shares in the last quarter. GAMMA Investing LLC raised its stake in Air Products and Chemicals by 8.0% during the 1st quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock worth $1,250,000 after buying an additional 314 shares during the period. Ascent Group LLC purchased a new stake in shares of Air Products and Chemicals in the first quarter worth approximately $427,000. Finally, Electron Capital Partners LLC raised its stake in shares of Air Products and Chemicals by 251.4% in the first quarter. Electron Capital Partners LLC now owns 311,668 shares of the basic materials company's stock worth $91,917,000 after purchasing an additional 222,980 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Down 0.7%

Shares of NYSE APD traded down $2.17 during midday trading on Monday, reaching $287.98. 834,840 shares of the company's stock traded hands, compared to its average volume of 683,487. The company has a market cap of $64.09 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 6.47 and a beta of 0.82. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The stock's 50 day simple moving average is $291.56 and its 200-day simple moving average is $283.16.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly 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 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 quarter last year, the company posted $3.20 earnings per share. The business's quarterly 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. On average, analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 103.02%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APD. UBS Group increased their price objective on Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Mizuho lifted their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price for the company. Finally, Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven 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, the company has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Insider Activity at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the business'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 completion of the sale, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. 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 owned by corporate insiders.

About Air Products and Chemicals

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.