Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Air Products and Chemicals by 6.7%, owning 30,285 shares valued at approximately $8.54 million after the second quarter.
• Air Products and Chemicals recently reported a quarterly EPS of $3.09, exceeding estimates, with a revenue of $3.02 billion compared to the expected $2.95 billion.
• The company declared a quarterly dividend of $1.79 per share, with an annualized dividend yield of 2.4%, and a *dividend payout ratio* of 103.02%.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,285 shares of the basic materials company's stock after buying an additional 1,914 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Air Products and Chemicals were worth $8,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hamilton Capital LLC lifted its position in shares of Air Products and Chemicals by 1.5% during the first quarter. Hamilton Capital LLC now owns 2,594 shares of the basic materials company's stock worth $765,000 after purchasing an additional 38 shares during the last quarter. West Branch Capital LLC lifted its position in shares of Air Products and Chemicals by 10.2% during the first quarter. West Branch Capital LLC now owns 421 shares of the basic materials company's stock worth $124,000 after purchasing an additional 39 shares during the last quarter. Kathmere Capital Management LLC lifted its position in shares of Air Products and Chemicals by 2.6% during the first quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company's stock worth $454,000 after purchasing an additional 39 shares during the last quarter. Connecticut Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 1.7% during the first quarter. Connecticut Wealth Management LLC now owns 2,385 shares of the basic materials company's stock worth $703,000 after purchasing an additional 39 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in shares of Air Products and Chemicals by 1.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,499 shares of the basic materials company's stock worth $737,000 after purchasing an additional 40 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the transaction, the vice president owned 8,686 shares in the company, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $292.44 on Friday. The firm's 50 day moving average is $291.66 and its two-hundred day moving average is $283.85. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The firm has a market capitalization of $65.08 billion, a P/E ratio of 42.08, a PEG ratio of 6.48 and a beta of 0.82. 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 announced its quarterly 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. 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 for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $3.20 earnings per share. Air Products and Chemicals's 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. Analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's dividend payout ratio (DPR) is currently 103.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APD shares. Mizuho increased their price target on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Morgan Stanley initiated coverage on shares of Air Products and Chemicals in a report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of Air Products and Chemicals in a report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Argus raised shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a report on Friday, September 12th. Finally, Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of "Moderate Buy" and an average price target of $335.07.

About Air Products and Chemicals

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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