Recently, major investors increased their stakes in Air Products and Chemicals. Capital Research Global Investors raised its ownership by 62.3%, purchasing 4.3 million shares, bringing their total to over 11.2 million shares valued at approximately $2.72 billion. National Bank of Canada FI raised its holdings by 2,931%, adding 1.7 million shares for a total of 1.8 million worth about $444.35 million. Massachusetts Financial Services increased its holdings by 127.3%, acquiring 1.5 million more shares, totaling approximately $720.6 million. Other firms, including Clearbridge Investments and Scharf Investments, also expanded their investments, bringing total institutional ownership to 81.66% of the stock.
Price Performance
As of Friday, shares of NYSE:APD opened at $285.58. The company has a market cap of $63.49 billion and a P/E ratio of 25.77. It reached a low of $212.24 and a high of $302.03 over the past year.
Air Products and Chemicals reported earnings of $3.20 per share for the most recent quarter, exceeding expectations of $3.04. They recorded $2.99 billion in revenue and a 21.24% net margin. Analysts forecast EPS of 12.33 for the current fiscal year.
Dividend Announcement
The company declared a quarterly dividend of $1.77 per share, payable on November 12, to shareholders on record as of October 1. This yields 2.48% and the payout ratio stands at 63.90%.
Analyst Ratings
Recent reports suggest various upgrades to APD stock. StockNews.com changed its rating from “sell” to “hold.” Other firms adjusted price targets upward, with Goldman Sachs aiming for $330 and Citigroup for $305. Currently, the consensus rating is “Hold” with an average target of $296.50.
Company Overview
Air Products and Chemicals, Inc. supplies atmospheric and specialty gases and services globally, serving industries like refining, healthcare, and food production.
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Find out which hedge funds are holding APD: Check HoldingsChannel.com for the latest filings.
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