Jacobi Capital Management LLC Sells 1,634 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Jacobi Capital Management LLC reduced its stake in Air Products and Chemicals, Inc. by 15.0%, selling 1,634 shares in the first quarter, leaving it with 9,235 shares valued at approximately $2.72 million.
• VP Victoria Brifo sold 1,359 shares at $292.38 each, decreasing her ownership by 13.53% and maintaining a total of 8,686 shares valued around $2.54 million.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, which is set to be paid on November 10th, with a dividend payout ratio of 103.02%.

Jacobi Capital Management LLC reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 15.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,235 shares of the basic materials company's stock after selling 1,634 shares during the period. Jacobi Capital Management LLC's holdings in Air Products and Chemicals were worth $2,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hamilton Capital LLC raised its holdings in Air Products and Chemicals by 1.5% during the first quarter. Hamilton Capital LLC now owns 2,594 shares of the basic materials company's stock worth $765,000 after purchasing an additional 38 shares in the last quarter. West Branch Capital LLC grew its position in 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 worth $124,000 after purchasing an additional 39 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Air Products and Chemicals by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock valued at $454,000 after acquiring an additional 39 shares in the last quarter. Connecticut Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 1.7% during the 1st quarter. Connecticut Wealth Management LLC now owns 2,385 shares of the basic materials company's stock valued at $703,000 after acquiring an additional 39 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in 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 purchasing an additional 40 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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 on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the sale, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on APD shares. Mizuho boosted their target price 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. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective on the stock. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Argus raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday. Finally, UBS Group lifted their price target 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. One research 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 issued a Sell rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus price target of $335.07.

Air Products and Chemicals Trading Down 0.5%

NYSE APD traded down $1.38 during mid-day trading on Friday, reaching $293.14. 985,778 shares of the stock were exchanged, compared to its average volume of 630,758. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The stock has a 50 day simple moving average of $291.89 and a 200-day simple moving average of $284.30. The stock has a market cap of $65.24 billion, a P/E ratio of 42.18, a P/E/G ratio of 6.57 and a beta of 0.82. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the firm earned $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. On average, analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 annualized dividend and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio is currently 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.