OMERS ADMINISTRATION Corp Reduces Position in Air Products and Chemicals, Inc. $APD

Key Points

• OMERS ADMINISTRATION Corp reduced its holdings in Air Products and Chemicals, Inc. by 14.3%, selling 1,325 shares and now owning a total of 7,958 shares valued at $2,347,000.
• Wells Fargo & Company raised its target price for Air Products to $345.00 with an "overweight" rating, while Barclays lowered their target from $355.00 to $325.00.
• The company reported a quarterly earnings per share (EPS) of $3.09, exceeding estimates, with a revenue increase of 1.2% year-over-year, and has set a FY 2025 EPS guidance between $11.900 and $12.100.

OMERS ADMINISTRATION Corp reduced its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 14.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,958 shares of the basic materials company's stock after selling 1,325 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Air Products and Chemicals were worth $2,347,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Air Products and Chemicals by 14.5% during the fourth quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock worth $945,000 after purchasing an additional 412 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $1,310,000. Boothbay Fund Management LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $455,000. Bison Wealth LLC purchased a new position in Air Products and Chemicals during the fourth quarter worth about $245,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Air Products and Chemicals during the fourth quarter worth about $7,983,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup boosted 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. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. Mizuho upped 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 report on Tuesday, July 15th. Finally, Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $335.07.

Air Products and Chemicals Trading Down 0.4%

Shares of Air Products and Chemicals stock traded down $1.27 during trading on Thursday, reaching $290.02. The company's stock had a trading volume of 579,646 shares, compared to its average volume of 757,288. The company has a market cap of $64.54 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 6.50 and a beta of 0.82. 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's 50-day moving average is $291.56 and its two-hundred day moving average is $285.50. 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 announced its quarterly earnings results 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. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the company posted $3.20 EPS. The firm'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, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a $1.79 dividend. This represents a $7.16 annualized dividend 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%.

Insider Activity

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the sale, the vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by insiders.

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.