RNC Capital Management LLC Has $54.24 Million Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• RNC Capital Management LLC increased its stake in Air Products and Chemicals to a total of approximately $54.24 million, now holding about 183,906 shares of the company.
• Air Products and Chemicals reported earnings per share (EPS) of $3.09, exceeding estimates of $2.99, with quarterly revenue reaching $3.02 billion.
• The company will pay a quarterly dividend of $1.79 to shareholders of record on October 1st, with an annualized yield of 2.5%.

RNC Capital Management LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,906 shares of the basic materials company's stock after acquiring an additional 1,165 shares during the quarter. Air Products and Chemicals accounts for approximately 2.8% of RNC Capital Management LLC's portfolio, making the stock its 10th largest holding. RNC Capital Management LLC owned about 0.08% of Air Products and Chemicals worth $54,238,000 at the end of the most recent reporting period.

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

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the company'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 value of $397,344.42. Following the transaction, the vice president directly owned 8,686 shares of the company's stock, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Stock Performance

NYSE APD opened at $289.70 on Monday. The stock has a market cap of $64.47 billion, a price-to-earnings ratio of 41.68, a price-to-earnings-growth ratio of 6.47 and a beta of 0.82. The business has a fifty day moving average of $291.70 and a 200-day moving average of $284.89. 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 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 data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company earned $3.20 EPS. The business's quarterly revenue 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. As a group, analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be issued a $1.79 dividend. 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 currently 103.02%.

Analyst Ratings Changes

APD has been the topic of a number of analyst reports. Morgan Stanley started coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 target price on the stock. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 price target on the stock. UBS Group lifted 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 report on Wednesday, July 9th. Citigroup upped their price objective 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. Finally, Mizuho raised their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $335.07.

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.

Want to see what other hedge funds are holding APD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Products and Chemicals, Inc. (NYSE:APD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.