Procyon Advisors LLC Decreases Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• Procyon Advisors LLC has reduced its stake in Air Products and Chemicals by 62.6%, selling 7,356 shares and now holding 4,394 shares valued at approximately $1.24 million.
• The company reported earnings of $3.09 per share for the last quarter, exceeding analysts' expectations, with a revenue of $3.02 billion, marking a 1.2% year-over-year increase.
• A quarterly dividend of $1.79 per share will be paid on November 10th, with an annualized yield of 2.5% despite a payout ratio exceeding 100%.

Procyon Advisors LLC decreased its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 62.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,394 shares of the basic materials company's stock after selling 7,356 shares during the period. Procyon Advisors LLC's holdings in Air Products and Chemicals were worth $1,239,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Berkshire Bank boosted its holdings in Air Products and Chemicals by 2.4% during the second quarter. Berkshire Bank now owns 1,768 shares of the basic materials company's stock worth $499,000 after purchasing an additional 42 shares during the last quarter. New England Research & Management Inc. acquired a new position in Air Products and Chemicals during the second quarter worth $571,000. Bowman & Co S.C. lifted its stake in Air Products and Chemicals by 0.7% in the second quarter. Bowman & Co S.C. now owns 6,688 shares of the basic materials company's stock valued at $1,888,000 after acquiring an additional 48 shares during the last quarter. Czech National Bank lifted its stake in Air Products and Chemicals by 6.5% in the second quarter. Czech National Bank now owns 54,397 shares of the basic materials company's stock valued at $15,343,000 after acquiring an additional 3,298 shares during the last quarter. Finally, Dover Advisors LLC lifted its stake in shares of Air Products and Chemicals by 1.9% during the 2nd quarter. Dover Advisors LLC now owns 5,041 shares of the basic materials company's stock worth $1,422,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on APD. Mizuho raised 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 report on Tuesday, July 15th. Citigroup raised 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. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada assumed coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. Finally, Argus raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Air Products and Chemicals currently has an average rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Price Performance

Shares of APD stock traded down $1.99 during trading on Friday, hitting $290.46. The company had a trading volume of 1,374,420 shares, compared to its average volume of 653,027. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The stock's 50-day moving average is $291.62 and its two-hundred day moving average is $283.55. The stock has a market capitalization of $64.64 billion, a price-to-earnings ratio of 41.79, 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 released 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. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. As a group, analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is currently 103.02%.

Insider Activity

In related news, VP Victoria Brifo sold 1,359 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Air Products and Chemicals 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.