Zurich Insurance Group Ltd FI Sells 221,633 Shares of Air Products and Chemicals, Inc. $APD

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in Air Products and Chemicals by 61.2% during the first quarter, bringing its holdings down to approximately 140,405 shares valued at $41.4 million.
• Despite Zurich's reduction, other hedge funds, including Hamilton Capital and West Branch Capital, have increased their positions in Air Products and Chemicals, reflecting 81.66% institutional ownership of the stock.
• Air Products and Chemicals also announced a quarterly dividend of $1.79, with an annualized yield of 2.5%, and set FY 2025 earnings guidance between $11.900 and $12.100 per share.

Zurich Insurance Group Ltd FI decreased its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 61.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,405 shares of the basic materials company's stock after selling 221,633 shares during the period. Zurich Insurance Group Ltd FI owned about 0.06% of Air Products and Chemicals worth $41,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Air Products and Chemicals during the first quarter worth about $25,000. Saudi Central Bank bought a new position in shares of Air Products and Chemicals in the first quarter valued at approximately $26,000. Cheviot Value Management LLC bought a new position in shares of Air Products and Chemicals in the first quarter valued at approximately $27,000. Citizens National Bank Trust Department raised its stake in shares of 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 valued at $33,000 after acquiring an additional 100 shares during the last quarter. Finally, 1248 Management LLC bought a new position in shares of Air Products and Chemicals in the first quarter valued at approximately $39,000. Institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APD. Mizuho lifted their target price on shares of 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. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada began coverage on shares of Air Products and Chemicals in a research note on Friday, June 13th. They issued an "outperform" rating and a $355.00 target price for the company. UBS Group lifted their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Argus upgraded shares of Air Products and Chemicals from a "hold" rating to a "buy" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $335.07.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the company's stock in a transaction on 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

Air Products and Chemicals Price Performance

Shares of Air Products and Chemicals stock traded down $1.38 during midday trading on Friday, reaching $293.14. The company had a trading volume of 985,778 shares, 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 company has a market capitalization of $65.24 billion, a price-to-earnings ratio of 42.18, a price-to-earnings-growth ratio of 6.41 and a beta of 0.82. The stock has a fifty day simple moving average of $291.87 and a 200 day simple moving average of $284.67. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. Air Products and Chemicals's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, 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 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 annualized dividend and a dividend yield of 2.4%. Air Products and Chemicals's payout ratio is presently 103.02%.

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.