Park Avenue Securities LLC Invests $3.52 Million in Air Products and Chemicals, Inc. $APD

Key Points

• Park Avenue Securities LLC has made a new investment of approximately $3.52 million in Air Products and Chemicals, Inc. by purchasing 12,484 shares during the 2nd quarter.
• Analysts have shown optimism for the company, with an upgraded rating from sell to hold and a consensus price target of $335.07.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, representing a 2.5% yield, with the ex-dividend date set for October 1st.

Park Avenue Securities LLC purchased a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,484 shares of the basic materials company's stock, valued at approximately $3,521,000.

Other hedge funds have also made changes to their positions in the company. Ritholtz Wealth Management raised its holdings in Air Products and Chemicals by 20.9% in the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after acquiring an additional 277 shares in the last quarter. Woodline Partners LP lifted its stake in Air Products and Chemicals by 40.8% in the first quarter. Woodline Partners LP now owns 18,796 shares of the basic materials company's stock worth $5,543,000 after acquiring an additional 5,445 shares during the last quarter. GAMMA Investing LLC lifted its stake in Air Products and Chemicals by 8.0% in the first quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock worth $1,250,000 after acquiring an additional 314 shares during the last quarter. Ascent Group LLC purchased a new position in Air Products and Chemicals in the first quarter worth approximately $427,000. Finally, Electron Capital Partners LLC lifted its stake in Air Products and Chemicals by 251.4% in the first quarter. Electron Capital Partners LLC now owns 311,668 shares of the basic materials company's stock worth $91,917,000 after acquiring an additional 222,980 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APD shares. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group lifted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price objective on the stock. Citigroup raised their price objective on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They set an "outperform" rating and a $355.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Insider Activity at Air Products and Chemicals

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

Air Products and Chemicals Stock Performance

NYSE:APD opened at $287.98 on Tuesday. The firm's fifty day moving average price is $291.56 and its 200 day moving average price is $283.16. 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 debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. The firm has a market cap of $64.09 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 6.47 and a beta of 0.82.

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 analysts' consensus estimates 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 firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm posted $3.20 EPS. Air Products and Chemicals's quarterly revenue was up 1.2% on a year-over-year basis. 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 expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.79 per share. 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 payout ratio is presently 103.02%.

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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