Air Products and Chemicals, Inc. $APD Shares Sold by Tribune Investment Group LP

Key Points

• Tribune Investment Group LP sold 11,000 shares of Air Products and Chemicals, decreasing its stake by 31.4%, leaving them with 24,000 shares valued at approximately $7,078,000.
• Air Products and Chemicals reported better-than-expected earnings of $3.09 per share for the last quarter, exceeding analysts' estimates, and achieved a revenue of $3.02 billion.
• The firm also announced a dividend of $1.79 per share, which will be paid on November 10th, representing an annualized dividend yield of 2.4% and a payout ratio of 103.02%.

Tribune Investment Group LP cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 31.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,000 shares of the basic materials company's stock after selling 11,000 shares during the quarter. Air Products and Chemicals accounts for 3.0% of Tribune Investment Group LP's investment portfolio, making the stock its 12th largest position. Tribune Investment Group LP's holdings in Air Products and Chemicals were worth $7,078,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in Air Products and Chemicals during the 4th quarter worth approximately $715,000. Ritholtz Wealth Management raised its holdings in shares of Air Products and Chemicals by 20.9% in the 1st quarter. Ritholtz Wealth Management now owns 1,603 shares of the basic materials company's stock valued at $473,000 after purchasing an additional 277 shares in the last quarter. Mantle Ridge LP acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $1,191,344,000. GAMMA Investing LLC raised its holdings in shares of Air Products and Chemicals by 8.0% in the 1st quarter. GAMMA Investing LLC now owns 4,238 shares of the basic materials company's stock valued at $1,250,000 after purchasing an additional 314 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Air Products and Chemicals by 4.1% in the 4th quarter. Focus Partners Wealth now owns 62,981 shares of the basic materials company's stock valued at $18,267,000 after purchasing an additional 2,453 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Price Performance

Shares of NYSE APD traded up $5.4990 during midday trading on Friday, hitting $299.0190. The company had a trading volume of 765,247 shares, compared to its average volume of 930,976. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The business has a 50-day simple moving average of $288.74 and a two-hundred day simple moving average of $286.64. The firm has a market capitalization of $66.55 billion, a price-to-earnings ratio of 43.02, a price-to-earnings-growth ratio of 6.68 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 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 firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter last year, the business earned $3.20 earnings per share. The business's revenue for the quarter 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. Equities research analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

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 given a dividend of $1.79 per share. The ex-dividend date 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 payout ratio is presently 103.02%.

Analysts Set New Price Targets

APD has been the topic of a number of analyst reports. 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 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, July 14th. UBS Group raised their price objective on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price on the stock. Finally, Citigroup increased their target price on shares of Air Products and Chemicals from $310.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Air Products and Chemicals has a consensus rating of "Moderate Buy" and a consensus target price of $335.07.

Insider Transactions at Air Products and Chemicals

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $292.38, for a total transaction of $397,344.42. Following the completion of the transaction, the vice president owned 8,686 shares in the company, valued at approximately $2,539,612.68. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company's stock.

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.