Raymond James Financial Inc. Buys 43,695 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Raymond James Financial Inc. increased its stake in Air Products and Chemicals by 1.4%, acquiring an additional 43,695 shares to own a total of 3,096,277 shares valued at approximately $913 million.
• Air Products and Chemicals has received positive projections from analysts, with multiple firms raising their target prices, including Mizuho and Citigroup, indicating a consensus target price of $335.07.
• The company declared a quarterly dividend of $1.79, payable on November 10, 2023, marking an annualized dividend of $7.16 and a yield of 2.5% with a payout ratio of 103.02%.

Raymond James Financial Inc. lifted its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,096,277 shares of the basic materials company's stock after purchasing an additional 43,695 shares during the quarter. Raymond James Financial Inc. owned 1.39% of Air Products and Chemicals worth $913,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in APD. Brighton Jones LLC boosted its stake in shares of Air Products and Chemicals by 14.5% in the 4th quarter. Brighton Jones LLC now owns 3,260 shares of the basic materials company's stock valued at $945,000 after purchasing an additional 412 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Air Products and Chemicals by 16.3% in the 4th quarter. CreativeOne Wealth LLC now owns 1,709 shares of the basic materials company's stock valued at $496,000 after purchasing an additional 240 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $6,858,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $50,000. Finally, Capital International Investors bought a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $436,636,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APD shares. Mizuho boosted their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company boosted their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Barclays dropped their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, UBS Group boosted their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Stock Down 0.3%

APD traded down $0.80 during trading on Thursday, hitting $291.57. 242,746 shares of the company's stock were exchanged, compared to its average volume of 1,299,845. 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 business's 50 day moving average is $288.16 and its two-hundred day moving average is $287.52. Air Products and Chemicals, Inc. has a fifty-two week low of $243.69 and a fifty-two week high of $341.14. The stock has a market cap of $64.89 billion, a P/E ratio of 41.96, a PEG ratio of 6.47 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.99 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company 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, equities analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 annualized dividend and a yield of 2.5%. Air Products and Chemicals's dividend payout ratio is presently 103.02%.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 1,359 shares of the 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 owned 8,686 shares in the company, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company's stock.

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.