KLP Kapitalforvaltning AS Raises Stake in Air Products and Chemicals, Inc. $APD

Key Points

• KLP Kapitalforvaltning AS increased its stake in Air Products and Chemicals by 4.6% to a total of 80,353 shares, valued at $22.66 million.
• The company reported $3.09 EPS for the last quarter, surpassing estimates by $0.10, with a 1.2% year-over-year revenue increase.
• Air Products has declared a quarterly dividend of $1.79 per share, resulting in an annualized dividend yield of 2.6%.

KLP Kapitalforvaltning AS lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 80,353 shares of the basic materials company's stock after purchasing an additional 3,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Air Products and Chemicals were worth $22,664,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management grew its holdings 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. West Oak Capital LLC boosted its holdings in Air Products and Chemicals by 12.2% in the 2nd quarter. West Oak Capital LLC now owns 10,815 shares of the basic materials company's stock worth $3,050,000 after acquiring an additional 1,180 shares during the period. Chapin Davis Inc. boosted its holdings in Air Products and Chemicals by 16.1% in the 2nd quarter. Chapin Davis Inc. now owns 11,157 shares of the basic materials company's stock worth $3,147,000 after acquiring an additional 1,551 shares during the period. Revisor Wealth Management LLC boosted its holdings in Air Products and Chemicals by 110.4% in the 2nd quarter. Revisor Wealth Management LLC now owns 3,265 shares of the basic materials company's stock worth $966,000 after acquiring an additional 1,713 shares during the period. Finally, Norden Group LLC boosted its holdings in Air Products and Chemicals by 167.3% in the 2nd quarter. Norden Group LLC now owns 5,800 shares of the basic materials company's stock worth $1,636,000 after acquiring an additional 3,630 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity

In related news, VP Victoria Brifo sold 1,359 shares of the company'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 transaction of $397,344.42. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $270.73 on Wednesday. The stock has a market cap of $60.25 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 5.63 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $286.24 and a 200-day moving average of $281.39. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14.

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, beating the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The business's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.20 EPS. 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 expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

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 dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. The Goldman Sachs Group set a $335.00 price target on Air Products and Chemicals in a report on Wednesday, October 1st. UBS Group decreased their price target on Air Products and Chemicals from $354.00 to $350.00 and set a "buy" rating for the company in a report on Monday. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Citigroup decreased their price target on Air Products and Chemicals from $325.00 to $308.00 and set a "buy" rating for the company in a report on Monday. Finally, Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $330.00.

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.

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