SVB Wealth LLC Sells 9,957 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• SVB Wealth LLC has reduced its stake in Air Products and Chemicals, Inc. by 23.6%, selling 9,957 shares and leaving it with 32,207 shares valued at approximately $9.5 million.
• The company recently reported earnings of $3.09 per share, exceeding analysts' expectations, and has set a FY 2025 EPS guidance of 11.900-12.100.
• Air Products and Chemicals will pay a quarterly dividend of $1.79 on November 10th, with an annualized yield of 2.4%, although their dividend payout ratio stands at 103.02%.

SVB Wealth LLC lowered its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,207 shares of the basic materials company's stock after selling 9,957 shares during the quarter. SVB Wealth LLC's holdings in Air Products and Chemicals were worth $9,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in Air Products and Chemicals by 129.4% during the fourth 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. Mantle Ridge LP purchased a new stake in shares of Air Products and Chemicals in the fourth quarter valued at $1,191,344,000. Northern Trust Corp lifted its position in shares of Air Products and Chemicals by 4.6% in the fourth quarter. Northern Trust Corp now owns 3,583,156 shares of the basic materials company's stock valued at $1,039,259,000 after acquiring an additional 156,419 shares in the last quarter. Raymond James Financial Inc. lifted its position in Air Products and Chemicals by 1.4% during the first quarter. Raymond James Financial Inc. now owns 3,096,277 shares of the basic materials company's stock worth $913,154,000 after buying an additional 43,695 shares during the period. Finally, Royal Bank of Canada lifted its position in Air Products and Chemicals by 1.5% during the fourth quarter. Royal Bank of Canada now owns 2,397,210 shares of the basic materials company's stock worth $695,287,000 after buying an additional 34,676 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Performance

APD traded down $0.34 on Thursday, hitting $294.25. 145,738 shares of the stock traded hands, compared to its average volume of 1,278,888. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week 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. The firm has a market capitalization of $65.49 billion, a PE ratio of 42.31, a P/E/G ratio of 6.56 and a beta of 0.81. The business has a fifty day moving average price of $289.74 and a two-hundred day moving average price of $286.34.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company posted $3.20 EPS. The company'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. On average, research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APD. Wall Street Zen upgraded Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company raised their price target on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Royal Bank Of Canada initiated coverage on Air Products and Chemicals in a research note on Friday, June 13th. They set an "outperform" rating and a $355.00 target price on the stock. Mizuho lifted their price target on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley assumed coverage on 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Air Products and Chemicals has a consensus 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 stock in a transaction 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 transaction, the vice president owned 8,686 shares of the company's stock, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.