Recently, several large investors changed their holdings in Air Products and Chemicals (NYSE:APD). Capital Research Global Investors increased their stake by 62.3% in Q1, now owning over 11 million shares valued at about $2.72 billion. The National Bank of Canada FI raised their holdings by an astounding 2,931%, now owning 1.8 million shares worth $444 million. Other firms like Massachusetts Financial Services, Clearbridge Investments, and Scharf Investments also significantly increased their shares. Overall, 81.66% of the stock is owned by hedge funds and institutional investors.
Price Performance
On Friday, shares opened at $285.58. Key metrics include a market cap of $63.49 billion, a P/E ratio of 25.77, and a 1-year stock range between $212.24 and $302.03.
Air Products reported quarterly earnings on August 1st, showing $3.20 EPS, exceeding estimates of $3.04. Revenue for the quarter was $2.99 billion, slightly below the expected $3.04 billion. Analysts project an EPS of 12.33 for the current fiscal year.
Dividend Announcement
The company will pay a quarterly dividend of $1.77 per share on November 12th, with an annual yield of 2.48%. The dividend payout ratio stands at 63.90%.
Analyst Ratings
Analysts have mixed views on APD. StockNews.com upgraded the rating from “sell” to “hold.” Goldman Sachs raised its price target to $330, keeping a “buy” rating, while Citigroup set a target of $305. Currently, the consensus rating is “Hold” with an average target of $296.50.
Company Overview
Air Products and Chemicals, Inc. supplies gases and equipment for various industries globally, including refining and healthcare.
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