State of Alaska Department of Revenue Cuts Stock Holdings in Air Products and Chemicals, Inc. $APD

Key Points

• The State of Alaska Department of Revenue reduced its stake in Air Products and Chemicals by 4.2%, owning 24,974 shares worth $7,044,000 after the sale.
• Wall Street analysts have a consensus target price of $335.07 for Air Products, with most ratings leaning towards a Moderate Buy.
• Air Products recently announced a quarterly dividend of $1.79, with a current dividend yield of 2.7%, despite a payout ratio exceeding 100%.

State of Alaska Department of Revenue lowered its stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,974 shares of the basic materials company's stock after selling 1,095 shares during the period. State of Alaska Department of Revenue's holdings in Air Products and Chemicals were worth $7,044,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Air Products and Chemicals during the first quarter worth approximately $25,000. Saudi Central Bank purchased a new position in Air Products and Chemicals during the first quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new position in Air Products and Chemicals during the first quarter worth approximately $27,000. Citizens National Bank Trust Department raised its stake in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, Ransom Advisory Ltd purchased a new position in Air Products and Chemicals during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on APD shares. Citigroup raised their target price on shares of 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. Royal Bank Of Canada started coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Wall Street Zen raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised 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 note 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 company an "outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Air Products and Chemicals presently has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Insider Buying and Selling at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the business's stock in a transaction dated 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. 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 available at the SEC website. Insiders own 0.41% of the company's stock.

Air Products and Chemicals Price Performance

APD opened at $266.74 on Monday. The company has a fifty day simple moving average of $289.88 and a 200 day simple moving average of $282.40. The firm has a market cap of $59.36 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 5.95 and a beta of 0.82. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during 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 business's revenue was up 1.2% on a year-over-year basis. During the same period last year, the business 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. Equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be given 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 2.7%. Air Products and Chemicals's payout ratio is presently 103.02%.

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.

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