Pacific Heights Asset Management LLC Invests $29.32 Million in Air Products and Chemicals, Inc. $APD

Key Points

• Pacific Heights Asset Management acquired 100,000 shares of Air Products and Chemicals worth approximately $29.32 million during the second quarter. Institutional investors collectively own 81.66% of the company.
• Analysts maintain a “Moderate Buy” consensus, with a $332.76 average price target; several firms recently raised their targets to between $330 and $360.
• Air Products and Chemicals exceeded quarterly earnings expectations with EPS of $3.47, while revenue rose 4.6% year over year to $3.16 billion. The company also declared a quarterly dividend of $1.81 per share, representing a 2.4% annualized yield.

Pacific Heights Asset Management LLC acquired a new stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the basic materials company's stock, valued at approximately $29,318,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after purchasing an additional 412 shares during the period. Bison Wealth LLC bought a new position in Air Products and Chemicals during the fourth quarter worth about $245,000. Sei Investments Co. increased its position in Air Products and Chemicals by 197.6% during the second quarter. Sei Investments Co. now owns 281,861 shares of the basic materials company's stock worth $79,498,000 after buying an additional 187,142 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Air Products and Chemicals by 2.1% during the second quarter. Treasurer of the State of North Carolina now owns 103,777 shares of the basic materials company's stock worth $29,271,000 after buying an additional 2,171 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in Air Products and Chemicals by 52.5% in the second quarter. Diversify Advisory Services LLC now owns 6,474 shares of the basic materials company's stock valued at $1,873,000 after buying an additional 2,229 shares during the period. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APD has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. BMO Capital Markets upgraded Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a research note on Friday, May 1st. Citigroup raised their price target on Air Products and Chemicals from $315.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Mizuho upped their price objective on shares of Air Products and Chemicals from $345.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $332.76.

Air Products and Chemicals Trading Down 0.5%

Shares of NYSE:APD opened at $305.15 on Friday. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $314.87. The business has a 50 day moving average of $297.78 and a 200-day moving average of $291.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The stock has a market cap of $67.95 billion, a PE ratio of -1,387.03, a P/E/G ratio of 2.66 and a beta of 0.73.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.34 by $0.13. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%.The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.09 earnings per share. 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, equities research analysts forecast that Air Products and Chemicals, Inc. will post 13.45 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

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 dividend of $1.81 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $7.24 dividend on an annualized basis 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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