Pacific Heights Asset Management LLC Purchases 7,000 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Pacific Heights Asset Management LLC increased its stake in Air Products and Chemicals by 11.7%, acquiring an additional 7,000 shares, bringing their total to 67,000 shares valued at approximately $18.9 million.
• Air Products and Chemicals reported earnings per share of $3.09 for the last quarter, exceeding analysts' expectations by $0.10, with revenue of $3.02 billion.
• Analysts have revised price targets for Air Products and Chemicals, with Goldman Sachs setting a target of $335.00 and Wells Fargo raising their target to $345.00, reflecting a favorable sentiment for the stock.

Pacific Heights Asset Management LLC raised its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,000 shares of the basic materials company's stock after acquiring an additional 7,000 shares during the quarter. Air Products and Chemicals comprises approximately 1.0% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 25th biggest holding. Pacific Heights Asset Management LLC's holdings in Air Products and Chemicals were worth $18,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC increased its position in Air Products and Chemicals by 12.2% in the 2nd quarter. West Oak Capital LLC now owns 10,815 shares of the basic materials company's stock valued at $3,050,000 after acquiring an additional 1,180 shares in the last quarter. Chapin Davis Inc. increased its position in Air Products and Chemicals by 16.1% in the 2nd quarter. Chapin Davis Inc. now owns 11,157 shares of the basic materials company's stock valued at $3,147,000 after acquiring an additional 1,551 shares in the last quarter. Revisor Wealth Management LLC increased its position in Air Products and Chemicals by 110.4% in the 2nd quarter. Revisor Wealth Management LLC now owns 3,265 shares of the basic materials company's stock valued at $966,000 after acquiring an additional 1,713 shares in the last quarter. Norden Group LLC increased its position in Air Products and Chemicals by 167.3% in the 2nd quarter. Norden Group LLC now owns 5,800 shares of the basic materials company's stock valued at $1,636,000 after acquiring an additional 3,630 shares in the last quarter. Finally, Aberdeen Group plc increased its position in Air Products and Chemicals by 4.1% in the 2nd quarter. Aberdeen Group plc now owns 113,027 shares of the basic materials company's stock valued at $31,903,000 after acquiring an additional 4,492 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 0.2%

Shares of NYSE APD opened at $254.81 on Wednesday. The stock has a market cap of $56.71 billion, a P/E ratio of 36.66, a P/E/G ratio of 5.28 and a beta of 0.83. The firm has a 50 day moving average price of $280.31 and a 200 day moving average price of $279.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. 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 issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous 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 expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the transaction, the vice president owned 8,686 shares of the company's stock, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on APD. The Goldman Sachs Group set a $335.00 price target on shares of Air Products and Chemicals in a research note on Wednesday, October 1st. Mizuho boosted their price target on shares of 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. Argus raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday, September 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Air Products and Chemicals in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $330.00.

About Air Products and Chemicals

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.

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