Recent transactions in Air Products and Chemicals have seen major investors increase their stakes. Notably, Capital Research Global Investors boosted its holdings by 62.3%, now owning over 11 million shares valued at $2.72 billion. National Bank of Canada FI upped its stake by 2,931%, owning about 1.8 million shares worth $444 million. Massachusetts Financial Services increased its holdings by 127.3% to 2.8 million shares valued at $720 million. Clearbridge Investments grew its stake by 50.6%, holding 1.5 million shares worth $374 million. Additionally, Scharf Investments acquired new shares worth about $87 million. Approximately 81.66% of the stock is owned by institutional investors.
Air Products and Chemicals Price Performance
As of Friday, shares of NYSE:APD opened at $285.58. The company has a market cap of $63.49 billion, with a debt-to-equity ratio of 0.77. Its 1-year stock range is $212.24 to $302.03. The P/E ratio is 25.77, and the stock’s 50-day average is $280.18.
Air Products and Chemicals (NYSE:APD) reported quarterly earnings on August 1, with earnings per share at $3.20, slightly above estimates. The company had a net margin of 21.24% and revenue of $2.99 billion, just below expectations. Analysts predict an EPS of 12.33 for the current year.
Dividend Announcement
The company declared a quarterly dividend of $1.77 per share, payable on November 12. This results in an annualized dividend of $7.08, reflecting a yield of 2.48%. The dividend payout ratio is 63.90%.
Analyst Recommendations
Several analysts have reviewed APD stock: StockNews.com upgraded it to “hold”. Goldman Sachs raised its target price from $291 to $330 with a “buy” rating. Citigroup adjusted their target from $280 to $305. Overall, analysts rate the stock as a “Hold” with an average target price of $296.50.
Check Out Our Latest Analysis on Air Products and Chemicals
Company Overview
Air Products and Chemicals, Inc. supplies gases and related services across various industries including energy, electronics, and healthcare.
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