Allstate Corp Raises Holdings in Air Products and Chemicals, Inc. $APD

Allstate Corp increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 21.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,021 shares of the basic materials company’s stock after acquiring an additional 1,413 shares during the quarter. Allstate Corp’s holdings in Air Products and Chemicals were worth $2,366,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in shares of Air Products and Chemicals in the 1st quarter valued at $25,000. Cheviot Value Management LLC purchased a new position in Air Products and Chemicals in the first quarter valued at about $27,000. Citizens National Bank Trust Department raised its holdings in 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 worth $33,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Air Products and Chemicals by 525.9% in the fourth quarter. Sunbelt Securities Inc. now owns 169 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 142 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Air Products and Chemicals by 3,560.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 183 shares of the basic materials company’s stock valued at $54,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APD. Morgan Stanley began coverage on shares of Air Products and Chemicals in a research report on Thursday, May 29th. They issued an “equal weight” rating and a $290.00 price objective on the stock. UBS Group lifted their price target on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Barclays reduced their price target on Air Products and Chemicals from $355.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company increased their price target on Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus price target of $335.07.

Insiders Place Their Bets

In other Air Products and Chemicals news, VP Victoria Brifo sold 1,359 shares of the firm’s 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 completion of the transaction, the vice president directly owned 8,686 shares of the company’s stock, valued at approximately $2,539,612.68. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Air Products and Chemicals Price Performance

Shares of APD opened at $299.0190 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 1.12. The company’s fifty day moving average price is $288.74 and its 200-day moving average price is $286.96. Air Products and Chemicals, Inc. has a 1-year low of $243.69 and a 1-year high of $341.14. The firm has a market capitalization of $66.55 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 6.55 and a beta of 0.81.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Air Products and Chemicals had a return on equity of 15.11% and a net margin of 12.86%.The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, equities research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Wednesday, October 1st will be given a $1.79 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals’s dividend payout ratio is currently 103.02%.

About Air Products and Chemicals

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.