Penobscot Investment Management Company Inc. Lowers Position in Air Products and Chemicals, Inc. $APD

Key Points

• Penobscot Investment Management Company Inc. reduced its stake in Air Products and Chemicals, Inc. by 3.9%, now holding 26,889 shares valued at approximately $7.58 million as of the end of Q2.
• A number of research analysts have upgraded their ratings for Air Products and Chemicals, with Wells Fargo increasing its price target from $320.00 to $345.00 and assigning an "overweight" rating.
• The company declared a quarterly dividend of $1.79 per share, reflecting a yield of 2.6%, with the dividend payout ratio noted at 103.02%.

Penobscot Investment Management Company Inc. reduced its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,889 shares of the basic materials company's stock after selling 1,087 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Air Products and Chemicals were worth $7,584,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in shares of Air Products and Chemicals in the 1st quarter valued at approximately $25,000. Saudi Central Bank purchased a new position in shares of Air Products and Chemicals during the 1st quarter worth approximately $26,000. Cheviot Value Management LLC acquired a new stake in Air Products and Chemicals in the 1st quarter valued at approximately $27,000. Citizens National Bank Trust Department raised its position in Air Products and Chemicals by 833.3% in the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 100 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in Air Products and Chemicals during the first quarter worth $37,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Citigroup increased their price target on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Argus raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday, September 12th. Mizuho upped their target price 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. Finally, UBS Group increased their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Air Products and Chemicals currently has an average rating of "Moderate Buy" and a consensus target price of $335.06.

Insider Activity

In other news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction dated Tuesday, August 5th. The stock was 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 in the company, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company's stock.

Air Products and Chemicals Stock Up 0.2%

APD stock opened at $271.24 on Friday. The company's 50 day moving average price is $287.22 and its 200 day moving average price is $281.77. The firm has a market capitalization of $60.36 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 5.63 and a beta of 0.83. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. 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 (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the previous year, the business posted $3.20 EPS. The firm's 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, equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals's payout ratio is 103.02%.

Air Products and Chemicals Company Profile

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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