QRG Capital Management Inc. Grows Position in Air Products and Chemicals, Inc. $APD

Key Points

• QRG Capital Management increased its Air Products and Chemicals position by 1,378.1% in the second quarter, holding 111,479 shares worth approximately $30.5 million. Institutional investors collectively own 81.66% of the company.
• Air Products reported quarterly EPS of $3.47, exceeding analyst expectations of $3.34, while revenue rose 4.6% year over year to $3.16 billion but fell slightly short of estimates.
• The company declared a quarterly dividend of $1.81, equivalent to an annualized $7.24 and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $336.53, above the recent share price of $286.77.

QRG Capital Management Inc. lifted its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1,378.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,479 shares of the basic materials company's stock after purchasing an additional 103,937 shares during the quarter. QRG Capital Management Inc. owned about 0.05% of Air Products and Chemicals worth $30,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APD. Evolution Wealth Management Inc. purchased a new position in Air Products and Chemicals during the first quarter valued at $25,000. Fiduciary Financial Advisors purchased a new stake in shares of Air Products and Chemicals in the 2nd quarter worth about $25,000. Main Street Group LTD purchased a new stake in shares of Air Products and Chemicals in the 1st quarter worth about $27,000. Cornerstone Planning Group LLC increased its stake in shares of Air Products and Chemicals by 318.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company's stock worth $28,000 after acquiring an additional 70 shares in the last quarter. Finally, Bayban bought a new position in shares of Air Products and Chemicals in the 4th quarter worth about $32,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 0.4%

Air Products and Chemicals stock traded down $1.09 during mid-day trading on Wednesday, reaching $286.77. The stock had a trading volume of 922,868 shares, compared to its average volume of 1,300,883. Air Products and Chemicals, Inc. has a one year low of $229.11 and a one year high of $314.87. The company has a 50-day moving average price of $298.45 and a two-hundred day moving average price of $293.36. The company has a market capitalization of $63.86 billion, a price-to-earnings ratio of -1,303.51, a PEG ratio of 2.82 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.13. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.20 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. Air Products and Chemicals's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $3.09 EPS. Air Products and Chemicals has set its FY 2026 guidance at 13.390-13.490 EPS and its Q4 2026 guidance at 3.550-3.650 EPS. On average, analysts expect that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals's payout ratio is presently -3,290.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APD shares. Morgan Stanley set a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Royal Bank Of Canada raised their target price on shares of Air Products and Chemicals from $358.00 to $360.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $320.00 price target on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Finally, Argus raised their price objective on Air Products and Chemicals from $316.00 to $329.00 and gave the company a "buy" rating in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $336.53.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is a global industrial gases and chemicals company headquartered in Allentown, Pennsylvania. Founded in 1940, the company supplies atmospheric and process gases, including oxygen, nitrogen, argon, hydrogen, helium, carbon monoxide and syngas, along with related equipment and technical services.

Air Products serves customers in industries such as refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings support applications including combustion, metal fabrication, semiconductor production, food preservation, medical care and industrial processing.

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