Peapack Gladstone Financial Corp Cuts Stock Position in Air Products and Chemicals, Inc. $APD

Key Points

• Peapack Gladstone Financial Corp cut its stake in Air Products and Chemicals by 9.6% in the fourth quarter, selling 11,001 shares and leaving it with 104,078 shares valued at about $25.7 million.
• Air Products and Chemicals reported strong quarterly results, with EPS of $3.20 beating estimates and revenue of $3.17 billion topping forecasts; revenue also rose 8.8% year over year.
• The company declared a quarterly dividend of $1.81 per share, equal to an annualized yield of 2.6%, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $323.12.

Peapack Gladstone Financial Corp lessened its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,078 shares of the basic materials company's stock after selling 11,001 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Air Products and Chemicals were worth $25,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new stake in Air Products and Chemicals in the 4th quarter worth $25,000. Richardson Financial Services Inc. increased its holdings in Air Products and Chemicals by 3,233.3% in the 4th quarter. Richardson Financial Services Inc. now owns 100 shares of the basic materials company's stock worth $25,000 after acquiring an additional 97 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new stake in Air Products and Chemicals in the 4th quarter worth $25,000. Caitlin John LLC purchased a new stake in Air Products and Chemicals in the 3rd quarter worth $30,000. Finally, Financial Life Planners purchased a new stake in shares of Air Products and Chemicals during the third quarter worth $30,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Trading Down 0.1%

Shares of APD opened at $278.37 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.21 and a debt-to-equity ratio of 0.95. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $307.96. The firm has a 50-day moving average price of $294.21 and a 200 day moving average price of $274.78. The firm has a market capitalization of $61.99 billion, a P/E ratio of 29.46, a P/E/G ratio of 2.45 and a beta of 0.74.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.14. Air Products and Chemicals had a net margin of 16.91% and a return on equity of 16.11%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the prior year, the firm posted $2.69 earnings per share. Air Products and Chemicals's quarterly revenue was up 8.8% on a year-over-year basis. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 13.2 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be issued a $1.81 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.6%. Air Products and Chemicals's dividend payout ratio is currently 76.61%.

Insider Activity

In related news, CFO Melissa N. Schaeffer sold 2,714 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $303.76, for a total value of $824,404.64. Following the completion of the sale, the chief financial officer owned 14,212 shares of the company's stock, valued at approximately $4,317,037.12. This represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on APD shares. Morgan Stanley upped their target price on shares of Air Products and Chemicals from $290.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Berenberg Bank set a $350.00 target price on shares of Air Products and Chemicals and gave the stock a "buy" rating in a report on Monday, April 20th. Jefferies Financial Group upped their target price on shares of Air Products and Chemicals from $300.00 to $313.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $315.00 target price on shares of Air Products and Chemicals in a report on Monday, May 4th. Finally, Citigroup upped their target price on shares of Air Products and Chemicals from $285.00 to $315.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $323.12.

Air Products and Chemicals Company 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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