Rockland Trust Co. Buys 2,698 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Rockland Trust Co. increased its holdings in Air Products and Chemicals by 5.7% during Q2, now owning 49,849 shares valued at approximately $14 million.
• Multiple institutional investors, including Wealth Enhancement Advisory Services LLC and Ferguson Wellman Capital Management Inc., also raised their positions in the company during the same period.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, with a 2.4% yield, set to be paid on November 10th.

Rockland Trust Co. increased its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,849 shares of the basic materials company's stock after buying an additional 2,698 shares during the period. Rockland Trust Co.'s holdings in Air Products and Chemicals were worth $14,060,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. lifted its stake in Air Products and Chemicals by 2.2% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 2,554 shares of the basic materials company's stock worth $720,000 after purchasing an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Air Products and Chemicals by 15.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 253,869 shares of the basic materials company's stock valued at $74,089,000 after buying an additional 34,059 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Air Products and Chemicals by 6.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,285 shares of the basic materials company's stock valued at $8,542,000 after buying an additional 1,914 shares during the period. Lineweaver Wealth Advisors LLC raised its position in shares of Air Products and Chemicals by 15.9% during the 2nd quarter. Lineweaver Wealth Advisors LLC now owns 6,708 shares of the basic materials company's stock valued at $1,892,000 after buying an additional 921 shares during the period. Finally, Berkshire Bank increased its holdings in Air Products and Chemicals by 2.4% in the 2nd quarter. Berkshire Bank now owns 1,768 shares of the basic materials company's stock valued at $499,000 after purchasing an additional 42 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on APD shares. Argus upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday, September 12th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group upped their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Mizuho upped their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company upped 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 research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $335.07.

Air Products and Chemicals Stock Down 0.7%

APD stock traded down $2.17 during trading hours on Monday, hitting $287.98. The company's stock had a trading volume of 834,840 shares, compared to its average volume of 683,487. 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 stock has a 50 day moving average price of $291.56 and a two-hundred day moving average price of $283.16. The company has a market capitalization of $64.09 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 6.47 and a beta of 0.82. Air Products and Chemicals, Inc. has a 12 month low of $243.69 and a 12 month high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.20 EPS. 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. On average, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be paid a $1.79 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $7.16 annualized dividend and a dividend yield of 2.5%. Air Products and Chemicals's dividend payout ratio is currently 103.02%.

Insider Activity at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total value of $397,344.42. Following the completion of the sale, the vice president owned 8,686 shares of the company's stock, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

Air Products and Chemicals 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.