Air Products and Chemicals, Inc. $APD Stock Purchased by Davis Capital Management

Davis Capital Management raised its position in Air Products and Chemicals, Inc. (NYSE:APD) by 162,900.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,780 shares of the basic materials company’s stock after purchasing an additional 9,774 shares during the period. Air Products and Chemicals comprises about 1.6% of Davis Capital Management’s investment portfolio, making the stock its 15th largest position. Davis Capital Management’s holdings in Air Products and Chemicals were worth $2,662,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of 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 valued at $10,597,451,000 after buying an additional 28,050,956 shares during the period. BlackRock Inc. purchased a new stake in Air Products and Chemicals in the 2nd quarter worth approximately $5,370,093,000. Bank of America Corp DE purchased a new stake in Air Products and Chemicals in the 2nd quarter worth approximately $1,216,976,000. Envestnet Asset Management Inc. raised its holdings in Air Products and Chemicals by 326.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,348,573 shares of the basic materials company’s stock valued at $927,010,000 after acquiring an additional 2,563,873 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Air Products and Chemicals during the 2nd quarter worth $495,201,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APD. Argus lifted their price objective on Air Products and Chemicals from $316.00 to $329.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Mizuho increased their target price on 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 price target on shares of Air Products and Chemicals in a research note on Monday, August 3rd. Weiss Ratings cut Air Products and Chemicals from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. One equities 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’s stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $333.56.

Air Products and Chemicals Trading Down 0.1%

Shares of NYSE APD traded down $0.36 during trading on Thursday, hitting $277.76. 841,761 shares of the company traded hands, compared to its average volume of 1,285,485. The firm has a market capitalization of $61.85 billion, a P/E ratio of -1,262.55, a P/E/G ratio of 2.64 and a beta of 0.76. 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 company 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 1 year low of $229.11 and a 1 year high of $314.87.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping 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 business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the company posted $3.09 EPS. The business’s quarterly 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, equities analysts predict that Air Products and Chemicals, Inc. will post 13.46 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Thursday, October 1st will be paid a $1.81 dividend. This represents a $7.24 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals’s payout ratio is currently -3,290.91%.

Air Products and Chemicals Company Profile

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.