Taikang Asset Management Hong Kong Co Ltd Sells 1,926 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Taikang Asset Management Hong Kong Co Ltd decreased its stake in Air Products and Chemicals, Inc. by 8.9%, selling 1,926 shares, leaving them with 19,800 shares valued at approximately $5.84 million.
• Analysts have set a range of price targets for Air Products and Chemicals, with the average target at $335.07, influenced by upgraded ratings from multiple research firms.
• Air Products and Chemicals announced a quarterly dividend of $1.79 per share, with an ex-dividend date of October 1st and a dividend yield of 2.4%.

Taikang Asset Management Hong Kong Co Ltd lowered its position in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,800 shares of the basic materials company's stock after selling 1,926 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Air Products and Chemicals were worth $5,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Synovus Financial Corp increased its stake in Air Products and Chemicals by 27.1% in the 1st quarter. Synovus Financial Corp now owns 13,721 shares of the basic materials company's stock valued at $4,047,000 after buying an additional 2,923 shares during the last quarter. Southeast Asset Advisors LLC bought a new stake in shares of Air Products and Chemicals in the 1st quarter valued at about $215,000. Dodge & Cox increased its position in Air Products and Chemicals by 31.5% during the first quarter. Dodge & Cox now owns 8,759,722 shares of the basic materials company's stock worth $2,583,417,000 after buying an additional 2,096,568 shares during the last quarter. Jump Financial LLC raised its stake in Air Products and Chemicals by 11.3% in the first quarter. Jump Financial LLC now owns 21,190 shares of the basic materials company's stock valued at $6,249,000 after buying an additional 2,158 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of Air Products and Chemicals by 2.7% in the first quarter. Smartleaf Asset Management LLC now owns 2,693 shares of the basic materials company's stock valued at $787,000 after buying an additional 70 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APD. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target on the stock. Wells Fargo & Company upped their price target 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. Mizuho boosted 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 report on Tuesday, July 15th. Morgan Stanley assumed 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 objective on the stock. Finally, Barclays decreased their target price on shares of Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $335.07.

Air Products and Chemicals Trading Up 0.1%

Shares of Air Products and Chemicals stock traded up $0.37 on Thursday, reaching $294.96. 541,733 shares of the company's stock were exchanged, compared to its average volume of 871,199. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The firm's 50-day moving average is $289.74 and its two-hundred day moving average is $286.34. The company has a market capitalization of $65.64 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 6.57 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.20 earnings per share. 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 predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

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

Insider Buying and Selling

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the firm's 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 completion of the sale, the vice president directly owned 8,686 shares of the company's stock, 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 filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company's stock.

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.