Intech Investment Management LLC Sells 18,329 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Intech Investment Management LLC reduced its holdings in Air Products and Chemicals by 43.5% in Q1, leaving it with 23,827 shares valued at approximately $7 million.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, leading to an annualized yield of 2.4% as the company's payout ratio reached 103.02%.
• The company reported a $3.09 EPS for the last quarter, surpassing expectations and indicating a revenue increase of 1.2% year-over-year.

Intech Investment Management LLC trimmed its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 43.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,827 shares of the basic materials company's stock after selling 18,329 shares during the quarter. Intech Investment Management LLC's holdings in Air Products and Chemicals were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

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

Air Products and Chemicals Trading Down 1.9%

Air Products and Chemicals stock traded down $5.49 during mid-day trading on Tuesday, hitting $284.03. 360,106 shares of the company's stock were exchanged, compared to its average volume of 1,239,966. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week 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 firm has a market capitalization of $63.21 billion, a P/E ratio of 40.81, a PEG ratio of 6.53 and a beta of 0.82. The company's 50 day simple moving average is $291.91 and its 200-day simple moving average is $283.92.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $3.20 earnings per share. The company's revenue for the quarter 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. On average, equities analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on APD. Citigroup upped their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Mizuho upped their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group increased their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Argus upgraded Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

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.