Legal & General Group Plc Has $301.80 Million Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Legal & General Group Plc cut its Air Products and Chemicals stake by 6.5% in the second quarter, selling 72,069 shares and retaining 1,029,392 shares valued at approximately $301.8 million. Institutional investors collectively own 81.66% of APD.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $332.76. Recent firms raised targets as high as $373.
• Air Products exceeded quarterly earnings expectations, reporting $3.47 in EPS versus the $3.34 consensus, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81 per share, equivalent to a 2.4% annualized yield.

Legal & General Group Plc reduced its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,029,392 shares of the basic materials company's stock after selling 72,069 shares during the quarter. Legal & General Group Plc owned 0.46% of Air Products and Chemicals worth $301,797,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APD. BlackRock Inc. acquired a new position in shares of Air Products and Chemicals in the second quarter valued at approximately $5,370,093,000. Norges Bank acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth $1,063,906,000. Capital International Investors lifted its position in Air Products and Chemicals by 44.2% in the 4th quarter. Capital International Investors now owns 12,792,580 shares of the basic materials company's stock valued at $3,160,023,000 after acquiring an additional 3,922,567 shares in the last quarter. Viking Global Investors LP bought a new stake in Air Products and Chemicals in the 2nd quarter valued at $607,601,000. Finally, Bank of New York Mellon Corp acquired a new position in Air Products and Chemicals in the 2nd quarter worth $495,201,000. Institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APD. Mizuho lifted their price target on Air Products and Chemicals from $345.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. BMO Capital Markets raised Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $360.00 price objective for the company in a research report on Friday, May 1st. Citigroup increased their price objective on Air Products and Chemicals from $315.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Air Products and Chemicals from $310.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $373.00 target price on shares of Air Products and Chemicals in a research note on Friday, July 31st. One 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $332.76.

Air Products and Chemicals Stock Performance

NYSE APD opened at $303.92 on Wednesday. The firm has a market capitalization of $67.68 billion, a P/E ratio of -1,381.43, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The firm's fifty day moving average price is $296.76 and its two-hundred day moving average price is $291.21. Air Products and Chemicals, Inc. has a 1 year low of $229.11 and a 1 year high of $314.87.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.09 EPS. Air Products and Chemicals has set its FY 2026 guidance at 13.390-13.490 EPS and its Q4 2026 guidance at 3.550-3.650 EPS. As a group, research analysts anticipate that Air Products and Chemicals, Inc. will post 13.45 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $1.81 per share. This represents a $7.24 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals's payout ratio is -3,290.91%.

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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