Sumitomo Mitsui Financial Group Inc. Has $17.70 Million Stock Position in Air Products and Chemicals, Inc. $APD

Key Points

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Sumitomo Mitsui Financial Group Inc. boosted its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,016 shares of the basic materials company's stock after acquiring an additional 5,562 shares during the quarter. Sumitomo Mitsui Financial Group Inc.'s holdings in Air Products and Chemicals were worth $17,700,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of APD. Mantle Ridge LP acquired a new stake in Air Products and Chemicals during the 4th quarter worth about $1,191,344,000. Bank of America Corp DE boosted its position in Air Products and Chemicals by 129.4% during the 4th quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company's stock worth $1,574,670,000 after acquiring an additional 3,062,157 shares during the period. GAMMA Investing LLC boosted its position in Air Products and Chemicals by 31,752.0% during the 1st quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock worth $368,612,000 after acquiring an additional 1,245,947 shares during the period. Principal Financial Group Inc. raised its stake in shares of Air Products and Chemicals by 159.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock worth $508,962,000 after purchasing an additional 1,059,970 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Air Products and Chemicals by 110.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,441,752 shares of the basic materials company's stock worth $425,202,000 after purchasing an additional 756,780 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APD. Citigroup raised their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Mizuho raised their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Barclays cut their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley began coverage on Air Products and Chemicals in a research note on Thursday, May 29th. They set an "equal weight" rating and a $290.00 price target for the company. Finally, Wall Street Zen raised Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, ten 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $335.07.

Air Products and Chemicals Stock Performance

Shares of APD stock traded up $5.4990 during trading on Friday, reaching $299.0190. The company had a trading volume of 765,247 shares, compared to its average volume of 930,976. The firm's 50 day simple moving average is $288.74 and its two-hundred day simple moving average is $286.96. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The company has a market capitalization of $66.55 billion, a PE ratio of 43.02, a PEG ratio of 6.55 and a beta of 0.81.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business earned $3.20 EPS. The firm'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. Sell-side analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced 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 of this dividend is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio (DPR) is 103.02%.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the firm'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 sale, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is owned by company insiders.

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.