Quarry LP Increases Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Quarry LP increased its stake in Air Products and Chemicals by 823.0% in the first quarter, purchasing an additional 2,469 shares, bringing total holdings to 2,769 shares worth approximately $817,000.
• The company reported a Q1 EPS of $3.09, beating estimates, and its revenue increased 1.2% year-over-year to $3.02 billion.
• Air Products will distribute a quarterly dividend of $1.79 per share on November 10th, representing an annualized dividend yield of 2.4%, with a payout ratio of 103.02%.

Quarry LP lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 823.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,769 shares of the basic materials company's stock after buying an additional 2,469 shares during the quarter. Quarry LP's holdings in Air Products and Chemicals were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its holdings in shares of Air Products and Chemicals by 20.9% during the first quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after purchasing an additional 277 shares during the last quarter. Mantle Ridge LP purchased a new position in Air Products and Chemicals during the fourth quarter valued at $1,191,344,000. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Focus Partners Wealth boosted its stake in Air Products and Chemicals by 4.1% in the 4th quarter. Focus Partners Wealth now owns 62,981 shares of the basic materials company's stock worth $18,267,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Croban purchased a new stake in Air Products and Chemicals during the 1st quarter valued at about $996,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Buying and Selling at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction dated Tuesday, August 5th. The shares were 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 of the company's stock, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APD. Citigroup increased their target price on Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley initiated coverage on Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price objective for the company. UBS Group raised their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Mizuho raised 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 report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Price Performance

NYSE:APD traded down $1.09 during trading hours on Wednesday, hitting $291.10. 606,620 shares of the stock traded hands, compared to its average volume of 750,227. The company has a market cap of $64.78 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 6.56 and a beta of 0.82. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The stock has a 50 day moving average price of $291.24 and a 200 day moving average price of $285.65. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) 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 company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the firm posted $3.20 EPS. Air Products and Chemicals's revenue for the quarter was up 1.2% compared to the same quarter last year. 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. Sell-side analysts forecast 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 disclosed 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. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.5%. 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.