OLD National Bancorp IN Cuts Stock Holdings in Air Products and Chemicals, Inc. $APD

OLD National Bancorp IN cut its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 0.7% in the second quarter, HoldingsChannel reports. The firm owned 5,882 shares of the basic materials company’s stock after selling 42 shares during the quarter. OLD National Bancorp IN’s holdings in Air Products and Chemicals were worth $1,659,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wayfinding Financial LLC purchased a new stake in shares of Air Products and Chemicals during the first quarter worth approximately $25,000. Saudi Central Bank purchased a new stake in shares of Air Products and Chemicals in the 1st quarter valued at approximately $26,000. Cheviot Value Management LLC purchased a new stake in shares of Air Products and Chemicals in the 1st quarter valued at approximately $27,000. Citizens National Bank Trust Department raised its holdings in shares of Air Products and Chemicals by 833.3% in the 1st quarter. Citizens National Bank Trust Department now owns 112 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Air Products and Chemicals during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling at Air Products and Chemicals

In related news, VP Victoria Brifo sold 1,359 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $292.38, for a total transaction of $397,344.42. Following 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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Air Products and Chemicals in a research note on Saturday, September 27th. Royal Bank Of Canada started coverage on Air Products and Chemicals in a research report on Friday, June 13th. They set an “outperform” rating and a $355.00 target price on the stock. Wells Fargo & Company boosted their target price on Air Products and Chemicals from $320.00 to $345.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Citigroup cut their price objective on shares of Air Products and Chemicals from $325.00 to $308.00 and set a “buy” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group set a $335.00 price objective on shares of Air Products and Chemicals in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.00.

Air Products and Chemicals Trading Down 0.1%

APD opened at $271.13 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.93. Air Products and Chemicals, Inc. has a 52 week low of $243.69 and a 52 week high of $341.14. The business’s 50 day moving average is $286.73 and its two-hundred day moving average is $281.47. The firm has a market cap of $60.34 billion, a price-to-earnings ratio of 39.01, a price-to-earnings-growth ratio of 5.65 and a beta of 0.83.

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 (EPS) 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 for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm posted $3.20 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. 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. On average, research analysts predict that Air Products and Chemicals, Inc. will post 12.69 EPS for the current year.

Air Products and Chemicals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Wednesday, October 1st will be issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Air Products and Chemicals’s dividend payout ratio is presently 103.02%.

Air Products and Chemicals Company 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.