DAVENPORT & Co LLC Reduces Stock Holdings in Air Products and Chemicals, Inc. $APD

DAVENPORT & Co LLC trimmed its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 3.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 59,109 shares of the basic materials company’s stock after selling 2,078 shares during the quarter. DAVENPORT & Co LLC’s holdings in Air Products and Chemicals were worth $16,672,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hamilton Capital LLC lifted its stake in Air Products and Chemicals by 1.5% in the first quarter. Hamilton Capital LLC now owns 2,594 shares of the basic materials company’s stock worth $765,000 after purchasing an additional 38 shares during the last quarter. DB Fitzpatrick & Co Inc raised its holdings in shares of Air Products and Chemicals by 1.0% in the second quarter. DB Fitzpatrick & Co Inc now owns 3,860 shares of the basic materials company’s stock worth $1,089,000 after buying an additional 38 shares during the period. West Branch Capital LLC lifted its stake in shares of Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company’s stock worth $124,000 after acquiring an additional 39 shares during the last quarter. Kathmere Capital Management LLC grew its position in Air Products and Chemicals by 2.6% in the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company’s stock valued at $454,000 after acquiring an additional 39 shares during the last quarter. Finally, Connecticut Wealth Management LLC increased its stake in Air Products and Chemicals by 1.7% in the first quarter. Connecticut Wealth Management LLC now owns 2,385 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 39 shares during the period. Institutional investors own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In related 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 completion of the transaction, the vice president directly owned 8,686 shares of the company’s stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $271.13 on Tuesday. The stock’s 50-day moving average is $286.73 and its 200 day moving average is $281.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The company has a market cap of $60.34 billion, a P/E ratio of 39.01, a PEG ratio of 5.65 and a beta of 0.83.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. The firm 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 was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business 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. Research analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $1.79 per share. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.6%. Air Products and Chemicals’s payout ratio is presently 103.02%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APD shares. Argus raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating in a research note on Friday, September 12th. Mizuho boosted their price objective on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Wall Street Zen raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. UBS Group lowered their price target on Air Products and Chemicals from $354.00 to $350.00 and set a “buy” rating for the company in a report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Air Products and Chemicals in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $330.00.

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.