RNC Capital Management LLC Cuts Stock Holdings in Air Products and Chemicals, Inc. $APD

RNC Capital Management LLC reduced its position in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 1.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 182,052 shares of the basic materials company’s stock after selling 1,854 shares during the period. Air Products and Chemicals comprises approximately 2.5% of RNC Capital Management LLC’s holdings, making the stock its 14th largest position. RNC Capital Management LLC’s holdings in Air Products and Chemicals were worth $51,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Air Products and Chemicals during the first quarter worth about $25,000. Saudi Central Bank purchased a new position in Air Products and Chemicals during the first quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in Air Products and Chemicals during the first quarter worth about $27,000. Financial Connections Group Inc. grew its position in Air Products and Chemicals by 46.7% during the second quarter. Financial Connections Group Inc. now owns 110 shares of the basic materials company’s stock worth $31,000 after buying an additional 35 shares during the period. Finally, Citizens National Bank Trust Department grew its position in Air Products and Chemicals by 833.3% during the first quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company’s stock worth $33,000 after buying an additional 100 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Down 0.7%

Shares of NYSE APD opened at $252.88 on Thursday. Air Products and Chemicals, Inc. has a 1 year low of $243.69 and a 1 year high of $341.14. The firm’s 50 day moving average price is $279.48 and its 200 day moving average price is $279.01. The firm has a market cap of $56.28 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 5.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $3.20 earnings per share. Air Products and Chemicals’s revenue was up 1.2% compared to the same quarter last year. 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, sell-side analysts anticipate that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Argus upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating in a research report on Friday, September 12th. The Goldman Sachs Group set a $335.00 target price on shares of Air Products and Chemicals in a research report on Wednesday, October 1st. Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. UBS Group lowered their target price on shares of Air Products and Chemicals from $354.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Air Products and Chemicals in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $330.00.

Insiders Place Their Bets

In other Air Products and Chemicals 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 transaction of $397,344.42. Following the transaction, the vice president owned 8,686 shares of the company’s stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

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.