Truist Financial Corp Trims Stake in Air Products and Chemicals, Inc. $APD

Key Points

• Truist Financial Corp reduced its stake in Air Products and Chemicals by 5.5%, resulting in ownership of 111,673 shares valued at approximately $31.5 million after selling 6,475 shares.
• Air Products and Chemicals reported earnings of $3.09 EPS for the last quarter, exceeding forecasts, with a revenue of $3.02 billion, which is a 1.2% year-over-year increase.
• The company announced a quarterly dividend of $1.79 per share to be paid on November 10th, representing an annualized yield of 2.6% with a payout ratio of 103.02%.

Truist Financial Corp cut its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 5.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,673 shares of the basic materials company's stock after selling 6,475 shares during the period. Truist Financial Corp owned 0.05% of Air Products and Chemicals worth $31,499,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Air Products and Chemicals during the 1st quarter valued at $25,000. Saudi Central Bank purchased a new position in Air Products and Chemicals during the 1st quarter valued at about $26,000. Cheviot Value Management LLC purchased a new position in Air Products and Chemicals during the 1st quarter valued at about $27,000. Citizens National Bank Trust Department grew its holdings in Air Products and Chemicals by 833.3% in the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company's stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, Ransom Advisory Ltd bought a new position in shares of Air Products and Chemicals during the first quarter valued at approximately $37,000. Institutional investors own 81.66% of the company's stock.

Air Products and Chemicals Stock Up 0.7%

APD opened at $270.58 on Friday. Air Products and Chemicals, Inc. has a twelve month low of $243.69 and a twelve month high of $341.14. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average price of $287.78 and a 200-day moving average price of $281.91. The stock has a market capitalization of $60.22 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 5.59 and a beta of 0.83.

Air Products and Chemicals (NYSE:APD - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm's revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.20 EPS. 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 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 company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, October 1st. Air Products and Chemicals's payout ratio is currently 103.02%.

Insider Activity at Air Products and Chemicals

In other news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 in the company, valued at $2,539,612.68. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APD. The Goldman Sachs Group set a $335.00 price target on Air Products and Chemicals in a research note on Wednesday. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research report on Friday, June 13th. They issued an "outperform" rating and a $355.00 price target for the company. Argus upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday, September 12th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Mizuho boosted their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $335.06.

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.

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