The Manufacturers Life Insurance Company Lowers Stake in Air Products and Chemicals, Inc. $APD

Key Points

• The Manufacturers Life Insurance Company reduced its Air Products and Chemicals stake by 4.2% in the second quarter, selling 4,892 shares and retaining 112,169 shares worth approximately $32.9 million. Institutional investors and hedge funds collectively own 81.66% of the company.
• Air Products and Chemicals reported quarterly earnings of $3.47 per share, exceeding analyst expectations of $3.34, while revenue rose 4.6% year over year to $3.16 billion but fell short of estimates.
• The company declared a quarterly dividend of $1.81 per share, equivalent to $7.24 annually and a 2.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $332.76.

The Manufacturers Life Insurance Company lowered its position in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,169 shares of the basic materials company's stock after selling 4,892 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Air Products and Chemicals worth $32,886,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of APD. Lloyd Advisory Services LLC. purchased a new stake in Air Products and Chemicals during the 4th quarter valued at about $25,000. Evolution Wealth Management Inc. acquired a new stake in Air Products and Chemicals during the first quarter valued at $25,000. Fiduciary Financial Advisors purchased a new position in Air Products and Chemicals in the second quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Air Products and Chemicals during the 4th quarter worth about $25,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Air Products and Chemicals during the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Air Products and Chemicals Price Performance

NYSE:APD opened at $307.33 on Thursday. Air Products and Chemicals, Inc. has a one year low of $229.11 and a one year high of $314.87. The stock has a market cap of $68.44 billion, a PE ratio of -1,396.95, a P/E/G ratio of 2.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a 50 day moving average price of $297.27 and a 200 day moving average price of $291.38.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.34 by $0.13. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%.The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the company posted $3.09 earnings per share. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Air Products and Chemicals has set its FY 2026 guidance at 13.390-13.490 EPS and its Q4 2026 guidance at 3.550-3.650 EPS. Equities research analysts expect that Air Products and Chemicals, Inc. will post 13.45 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a $1.81 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.4%. Air Products and Chemicals's dividend payout ratio is currently -3,290.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho upped their target price on Air Products and Chemicals from $345.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Evercore reaffirmed an "outperform" rating and set a $342.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 10th. Weiss Ratings lowered shares of Air Products and Chemicals from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Air Products and Chemicals from $310.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Finally, Citigroup boosted their price objective on Air Products and Chemicals from $315.00 to $330.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $332.76.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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