MetLife Investment Management LLC Lowers Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• MetLife Investment Management LLC has reduced its stake in Air Products and Chemicals by 1.8%, selling 1,060 shares to hold a total of 57,777 shares valued at approximately $17 million.
• Analysts have recently upgraded their target prices for the stock, with Wells Fargo raising its target from $320 to $345 and maintaining an "overweight" rating on the stock.
• The company is set to pay a quarterly dividend of $1.79 on November 10th, representing an annualized yield of 2.4%, despite having a dividend payout ratio of 103.02%.

MetLife Investment Management LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,777 shares of the basic materials company's stock after selling 1,060 shares during the period. MetLife Investment Management LLC's holdings in Air Products and Chemicals were worth $17,040,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of APD. Mantle Ridge LP purchased a new stake in Air Products and Chemicals during the 4th quarter worth about $1,191,344,000. Bank of America Corp DE grew its position in shares of Air Products and Chemicals by 129.4% during the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after buying an additional 3,062,157 shares in the last quarter. Dodge & Cox increased its stake in shares of Air Products and Chemicals by 31.5% during the first quarter. Dodge & Cox now owns 8,759,722 shares of the basic materials company's stock worth $2,583,417,000 after buying an additional 2,096,568 shares during the period. GAMMA Investing LLC raised its holdings in Air Products and Chemicals by 31,752.0% in the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock valued at $368,612,000 after acquiring an additional 1,245,947 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Air Products and Chemicals by 159.2% in the first quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock worth $508,962,000 after acquiring an additional 1,059,970 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Performance

NYSE:APD traded up $0.37 during mid-day trading on Thursday, reaching $294.96. 541,733 shares of the stock were exchanged, compared to its average volume of 1,281,351. The stock has a market capitalization of $65.64 billion, a P/E ratio of 42.44, a P/E/G ratio of 6.56 and a beta of 0.81. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The company has a 50 day simple moving average of $289.74 and a 200-day simple moving average of $286.34. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The company's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.20 earnings per share. 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. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals's payout ratio is currently 103.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APD. Citigroup increased their price objective 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. Barclays dropped their target price on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective on the stock. Finally, Mizuho boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $335.07.

Insider Activity at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

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.