Zimmer Partners LP Decreases Position in Air Products and Chemicals, Inc. $APD

Key Points

• Zimmer Partners LP has decreased its stake in Air Products and Chemicals by 10%, holding 45,000 shares worth $13.27 million after selling 5,000 shares in the first quarter.
• Several hedge funds have either recently initiated or increased stakes in Air Products and Chemicals, with 81.66% of the stock now held by institutional investors.
• Air Products and Chemicals reported earnings of $3.09 per share, exceeding expectations, and announced a dividend of $1.79 per share to be paid on November 10th.

Zimmer Partners LP cut its stake in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the basic materials company's stock after selling 5,000 shares during the quarter. Zimmer Partners LP's holdings in Air Products and Chemicals were worth $13,271,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mantle Ridge LP bought a new stake in Air Products and Chemicals during the fourth quarter worth about $1,191,344,000. Dodge & Cox boosted its stake 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 acquiring an additional 2,096,568 shares in the last quarter. GAMMA Investing LLC boosted its stake in Air Products and Chemicals by 31,752.0% during the first quarter. GAMMA Investing LLC now owns 1,249,871 shares of the basic materials company's stock worth $368,612,000 after acquiring an additional 1,245,947 shares in the last quarter. Principal Financial Group Inc. increased its stake in Air Products and Chemicals by 159.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company's stock valued at $508,962,000 after purchasing an additional 1,059,970 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Air Products and Chemicals by 110.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,441,752 shares of the basic materials company's stock valued at $425,202,000 after acquiring an additional 756,780 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Victoria Brifo sold 1,359 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 directly owned 8,686 shares of the company's stock, valued at approximately $2,539,612.68. This represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group upped their price objective on Air Products and Chemicals from $328.00 to $344.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Argus raised Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday. Mizuho boosted their price objective on Air Products and Chemicals from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada initiated coverage on shares of 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. Finally, Morgan Stanley began coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They issued an "equal weight" rating and a $290.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $335.07.

Air Products and Chemicals Price Performance

Shares of NYSE:APD traded down $1.38 during midday trading on Friday, reaching $293.14. 985,778 shares of the company were exchanged, compared to its average volume of 1,246,626. 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 business's fifty day moving average is $291.87 and its two-hundred day moving average is $284.67. Air Products and Chemicals, Inc. has a one year low of $243.69 and a one year high of $341.14. The stock has a market cap of $65.24 billion, a PE ratio of 42.18, a price-to-earnings-growth ratio of 6.41 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD - Get Free Report) last announced its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company earned $3.20 earnings per share. The firm's revenue was up 1.2% on a year-over-year basis. 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. As a group, analysts predict 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. Investors of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 103.02%.

Air Products and Chemicals Company 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.