Precedent Wealth Partners LLC Acquires 851 Shares of Air Products and Chemicals, Inc. $APD

Precedent Wealth Partners LLC boosted its position in Air Products and Chemicals, Inc. (NYSE:APD) by 22.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,668 shares of the basic materials company’s stock after acquiring an additional 851 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Air Products and Chemicals were worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in APD. Dodge & Cox increased its stake in Air Products and Chemicals by 31.5% in the first quarter. Dodge & Cox now owns 8,759,722 shares of the basic materials company’s stock valued at $2,583,417,000 after acquiring an additional 2,096,568 shares during the last quarter. Principal Financial Group Inc. increased its stake in Air Products and Chemicals by 159.2% in the first quarter. Principal Financial Group Inc. now owns 1,725,762 shares of the basic materials company’s stock valued at $508,962,000 after acquiring an additional 1,059,970 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Air Products and Chemicals by 110.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,441,752 shares of the basic materials company’s stock valued at $425,202,000 after acquiring an additional 756,780 shares during the last quarter. Electron Capital Partners LLC increased its stake in Air Products and Chemicals by 251.4% in the first quarter. Electron Capital Partners LLC now owns 311,668 shares of the basic materials company’s stock valued at $91,917,000 after acquiring an additional 222,980 shares during the last quarter. Finally, Strs Ohio bought a new position in Air Products and Chemicals in the first quarter valued at approximately $42,661,000. 81.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Victoria Brifo sold 1,359 shares of Air Products and Chemicals stock in a transaction 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 owned 8,686 shares of the company’s stock, valued at $2,539,612.68. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

APD has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Mizuho raised their target price on shares of Air Products and Chemicals from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Argus upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating in a research report on Friday, September 12th. UBS Group raised their target price on shares of Air Products and Chemicals from $328.00 to $344.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $335.06.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $271.24 on Friday. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The firm’s fifty day moving average is $287.22 and its 200-day moving average is $281.77. The firm has a market cap of $60.36 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 5.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.29.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, July 31st. The basic materials company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. Air Products and Chemicals had a net margin of 12.86% and a return on equity of 15.11%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the firm earned $3.20 earnings per share. Air Products and Chemicals’s quarterly revenue was up 1.2% on a year-over-year basis. 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. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

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 paid a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 103.02%.

Air Products and Chemicals Profile

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.