Davis Capital Management grew its holdings in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) by 162,900.0% during the third quarter, HoldingsChannel.com reports. The fund owned 9,780 shares of the basic materials company’s stock after purchasing an additional 9,774 shares during the quarter. Air Products and Chemicals makes up about 1.6% of Davis Capital Management’s portfolio, making the stock its 15th biggest holding. Davis Capital Management’s holdings in Air Products and Chemicals were worth $2,662,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in APD. State Street Corp increased its holdings in Air Products and Chemicals by 277.4% in the 2nd quarter. State Street Corp now owns 38,161,451 shares of the basic materials company’s stock valued at $10,597,451,000 after purchasing an additional 28,050,956 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Air Products and Chemicals during the second quarter worth about $5,370,093,000. Bank of America Corp DE purchased a new stake in shares of Air Products and Chemicals in the second quarter worth about $1,216,976,000. Envestnet Asset Management Inc. grew its stake in shares of Air Products and Chemicals by 326.7% in the second quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company’s stock valued at $927,010,000 after buying an additional 2,563,873 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Air Products and Chemicals in the second quarter valued at about $495,201,000. 81.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on APD. KeyCorp assumed coverage on Air Products and Chemicals in a research report on Thursday, September 10th. They set a “sector weight” rating on the stock. 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $320.00 target price on shares of Air Products and Chemicals in a research report on Monday, August 3rd. Morgan Stanley set a $320.00 target price on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada raised their price target on shares of Air Products and Chemicals from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average price target of $333.56.
Air Products and Chemicals Stock Down 0.1%
APD stock traded down $0.36 during midday trading on Thursday, hitting $277.76. 841,761 shares of the company’s stock were exchanged, compared to its average volume of 1,285,485. The firm has a 50 day moving average price of $295.02 and a 200-day moving average price of $293.25. Air Products and Chemicals, Inc. has a 12-month low of $229.11 and a 12-month high of $314.87. The stock has a market capitalization of $61.85 billion, a price-to-earnings ratio of -1,262.55, a price-to-earnings-growth ratio of 2.64 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01.
Air Products and Chemicals (NYSE:APD – Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.34 by $0.13. Air Products and Chemicals had a positive return on equity of 16.87% and a negative net margin of 0.38%.The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the business posted $3.09 EPS. The business’s revenue was up 4.6% on a year-over-year basis. 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. On average, analysts anticipate that Air Products and Chemicals, Inc. will post 13.46 EPS for the current year.
Air Products and Chemicals Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $1.81 per share. This represents a $7.24 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals’s dividend payout ratio is -3,290.91%.
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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