RNC Capital Management LLC Sells 20,191 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• RNC Capital Management trimmed its stake in Air Products by 11.1% in Q4, selling 20,191 shares and now holding 161,623 shares (about 0.07% of the company) valued at roughly $39.9 million.
• Significant insider selling occurred: Director Ridge Lp Mantle sold 70,175 shares for about $19.94 million and CFO Melissa Schaeffer sold 2,714 shares for about $824k, leaving insiders with 1.88% ownership.
• Air Products beat quarterly EPS and revenue (EPS $3.20 vs. $3.06 est.), set FY 2026 guidance of $13.00–$13.25 EPS, and announced a quarterly dividend of $1.81 (annual $7.24, yield ~2.4%).

RNC Capital Management LLC decreased its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 161,623 shares of the basic materials company's stock after selling 20,191 shares during the period. Air Products and Chemicals makes up about 1.8% of RNC Capital Management LLC's portfolio, making the stock its 28th biggest position. RNC Capital Management LLC owned about 0.07% of Air Products and Chemicals worth $39,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in APD. Christine Messmer PC bought a new stake in Air Products and Chemicals during the 4th quarter worth $988,000. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Air Products and Chemicals by 2.4% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,679 shares of the basic materials company's stock worth $415,000 after acquiring an additional 40 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in Air Products and Chemicals by 6.0% during the fourth quarter. Wolverine Asset Management LLC now owns 5,300 shares of the basic materials company's stock worth $1,309,000 after acquiring an additional 300 shares in the last quarter. Altrius Capital Management Inc boosted its holdings in Air Products and Chemicals by 16.5% in the fourth quarter. Altrius Capital Management Inc now owns 20,307 shares of the basic materials company's stock worth $5,016,000 after acquiring an additional 2,869 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in Air Products and Chemicals by 221.6% in the fourth quarter. Intact Investment Management Inc. now owns 23,800 shares of the basic materials company's stock worth $5,879,000 after acquiring an additional 16,400 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Ridge Lp Mantle sold 70,175 shares of Air Products and Chemicals stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $284.21, for a total transaction of $19,944,436.75. Following the sale, the director owned 93,499 shares of the company's stock, valued at approximately $26,573,350.79. The trade was a 42.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Melissa N. Schaeffer sold 2,714 shares of Air Products and Chemicals stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $303.76, for a total value of $824,404.64. Following the sale, the chief financial officer owned 14,212 shares in the company, valued at $4,317,037.12. This represents a 16.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.88% of the stock is currently owned by company insiders.

Air Products and Chemicals Stock Down 0.9%

APD opened at $298.29 on Tuesday. The business's 50-day moving average price is $288.71 and its 200-day moving average price is $269.07. The company has a current ratio of 1.43, a quick ratio of 1.21 and a debt-to-equity ratio of 0.95. Air Products and Chemicals, Inc. has a 12 month low of $229.11 and a 12 month high of $307.29. The company has a market cap of $66.42 billion, a P/E ratio of 31.57, a P/E/G ratio of 2.81 and a beta of 0.77.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.14. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.07 billion. Air Products and Chemicals had a return on equity of 16.11% and a net margin of 16.91%.Air Products and Chemicals's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.69 EPS. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 13.11 EPS for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be given a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 76.19%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APD. Sanford C. Bernstein restated an "outperform" rating and issued a $315.00 target price on shares of Air Products and Chemicals in a report on Monday, February 2nd. Citigroup lifted their price objective on shares of Air Products and Chemicals from $285.00 to $315.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Jefferies Financial Group boosted their target price on Air Products and Chemicals from $300.00 to $313.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Bank of America boosted their price target on shares of Air Products and Chemicals from $280.00 to $303.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Finally, Mizuho set a $345.00 price objective on Air Products and Chemicals in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals has a consensus rating of "Moderate Buy" and an average price target of $321.76.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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