Osterweis Capital Management Inc. Cuts Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• Osterweis Capital Management cut its Air Products and Chemicals stake by 38.5% in the second quarter, selling 44,017 shares and retaining 70,429 shares valued at approximately $20.65 million.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $332.76, above its reported opening price of $306.14.
• Air Products exceeded quarterly earnings expectations with EPS of $3.47 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, representing a 2.4% annualized yield.

Osterweis Capital Management Inc. decreased its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 38.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,429 shares of the basic materials company's stock after selling 44,017 shares during the period. Osterweis Capital Management Inc.'s holdings in Air Products and Chemicals were worth $20,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Lloyd Advisory Services LLC. purchased a new position in Air Products and Chemicals in the fourth quarter worth $25,000. Evolution Wealth Management Inc. bought a new position in Air Products and Chemicals in the first quarter valued at $25,000. Fiduciary Financial Advisors purchased a new stake in Air Products and Chemicals during the second quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Air Products and Chemicals during the fourth quarter valued at about $25,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Air Products and Chemicals during the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analysts Set New Price Targets

APD has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Air Products and Chemicals from $310.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $320.00 target price on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Sanford C. Bernstein reaffirmed 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. Citigroup increased their price target on shares of Air Products and Chemicals from $315.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, Evercore reissued an "outperform" rating and set a $342.00 price target on shares of Air Products and Chemicals in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals has an average rating of "Moderate Buy" and an average price target of $332.76.

Air Products and Chemicals Stock Up 0.3%

APD opened at $306.14 on Tuesday. The company has a market cap of $68.17 billion, a P/E ratio of -1,391.54, a P/E/G ratio of 2.65 and a beta of 0.73. The business's 50-day moving average price is $296.28 and its 200-day moving average price is $291.09. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. Air Products and Chemicals, Inc. has a 12 month low of $229.11 and a 12 month high of $314.87.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.13. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%.The company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the business posted $3.09 EPS. Air Products and Chemicals's quarterly revenue was up 4.6% compared to the same quarter last year. 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. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 13.45 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 9th. Stockholders of record on Thursday, October 1st will be issued a $1.81 dividend. The ex-dividend date is Thursday, October 1st. This represents a $7.24 annualized dividend and a dividend yield of 2.4%. Air Products and Chemicals's dividend payout ratio (DPR) is currently -3,290.91%.

Air Products and Chemicals Profile

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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