State of Alaska Department of Revenue boosted its stake in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 254.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 77,373 shares of the basic materials company’s stock after acquiring an additional 55,554 shares during the period. State of Alaska Department of Revenue’s holdings in Air Products and Chemicals were worth $21,183,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of APD. State Street Corp raised its holdings in Air Products and Chemicals by 277.4% during the second quarter. State Street Corp now owns 38,161,451 shares of the basic materials company’s stock worth $10,597,451,000 after purchasing an additional 28,050,956 shares in the last quarter. BlackRock Inc. acquired a new position in Air Products and Chemicals during the second quarter worth $5,370,093,000. Bank of America Corp DE lifted its position in shares of Air Products and Chemicals by 14.3% during the 1st quarter. Bank of America Corp DE now owns 4,443,531 shares of the basic materials company’s stock valued at $1,290,801,000 after acquiring an additional 556,188 shares during the period. Envestnet Asset Management Inc. boosted its position in Air Products and Chemicals by 326.7% during the second quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company’s stock worth $927,010,000 after purchasing an additional 2,563,873 shares in the last quarter. Finally, Aristotle Capital Management LLC grew its position in shares of Air Products and Chemicals by 0.5% in the first quarter. Aristotle Capital Management LLC now owns 2,683,883 shares of the basic materials company’s stock valued at $779,665,000 after purchasing an additional 14,262 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.
Air Products and Chemicals Stock Up 0.8%
Shares of APD traded up $2.48 during trading hours on Thursday, reaching $295.01. The company’s stock had a trading volume of 272,420 shares, compared to its average volume of 1,270,623. The company has a 50 day moving average of $293.95 and a two-hundred day moving average of $293.21. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.01. The firm has a market cap of $65.69 billion, a price-to-earnings ratio of -1,339.04, a P/E/G ratio of 2.72 and a beta of 0.76. Air Products and Chemicals, Inc. has a 1-year low of $229.11 and a 1-year high of $314.87.
Air Products and Chemicals (NYSE:APD – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.13. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.09 EPS. 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. As a group, research analysts predict that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.
Air Products and Chemicals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Thursday, October 1st will be given a dividend of $1.81 per share. The ex-dividend date is Thursday, October 1st. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.5%. Air Products and Chemicals’s payout ratio is presently -3,290.91%.
Analyst Upgrades and Downgrades
APD has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Air Products and Chemicals from $336.00 to $305.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Citigroup cut their target price on shares of Air Products and Chemicals from $330.00 to $312.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 price objective on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Mizuho upped their target price on shares of Air Products and Chemicals from $345.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Argus lifted their price objective on shares of Air Products and Chemicals from $316.00 to $329.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $333.88.
Check Out Our Latest Analysis on APD
About Air Products and Chemicals
Air Products and Chemicals, Inc is a global industrial gases and related equipment company headquartered in Allentown, Pennsylvania. The company supplies atmospheric gases such as oxygen, nitrogen and argon, as well as process and specialty gases including hydrogen, helium, carbon dioxide and syngas.
Air Products serves customers in a range of industries, including refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings include gases delivered through pipelines, bulk and packaged distribution, and on-site production systems, along with gas-processing equipment and technologies used in applications such as hydrogen production, natural gas liquefaction and carbon capture.
Founded in 1940, Air Products operates across North America, Europe, the Middle East, Asia and other international markets.
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