Truist Financial Corp Trims Stake in Air Products and Chemicals, Inc. $APD

Truist Financial Corp cut its holdings in shares of Air Products and Chemicals, Inc. (NYSE:APD) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,099 shares of the basic materials company’s stock after selling 11,574 shares during the period. Truist Financial Corp’s holdings in Air Products and Chemicals were worth $27,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Air Products and Chemicals in the 2nd quarter valued at approximately $1,020,081,000. Viking Global Investors LP purchased a new position in shares of Air Products and Chemicals during the second quarter valued at approximately $607,601,000. First Trust Advisors LP grew its holdings in Air Products and Chemicals by 268.7% in the 2nd quarter. First Trust Advisors LP now owns 822,589 shares of the basic materials company’s stock valued at $232,019,000 after buying an additional 599,513 shares during the period. Franklin Resources Inc. raised its position in shares of Air Products and Chemicals by 13.3% in the 2nd quarter. Franklin Resources Inc. now owns 3,794,781 shares of the basic materials company’s stock worth $1,070,356,000 after buying an additional 444,855 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Air Products and Chemicals by 43.3% during the 2nd quarter. Invesco Ltd. now owns 1,432,928 shares of the basic materials company’s stock worth $404,172,000 after purchasing an additional 432,770 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $256.10 on Friday. The firm has a market cap of $57.01 billion, a price-to-earnings ratio of -143.88, a P/E/G ratio of 2.51 and a beta of 0.87. Air Products and Chemicals, Inc. has a 52 week low of $229.11 and a 52 week high of $341.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.20 and a current ratio of 1.38. The business’s 50-day simple moving average is $254.11 and its 200-day simple moving average is $268.69.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, November 6th. The basic materials company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.01. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Air Products and Chemicals had a negative net margin of 3.28% and a positive return on equity of 15.18%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $3.56 earnings per share. Air Products and Chemicals has set its Q1 2026 guidance at 2.950-3.100 EPS and its FY 2026 guidance at 12.850-13.150 EPS. As a group, equities research analysts expect that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Wednesday, April 1st will be given a $1.81 dividend. This represents a $7.24 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.79. Air Products and Chemicals’s dividend payout ratio is presently -402.25%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of Air Products and Chemicals in a research note on Tuesday, December 9th. Bank of America raised shares of Air Products and Chemicals from an “underperform” rating to a “neutral” rating and set a $275.00 price objective for the company in a report on Thursday, January 8th. Evercore ISI dropped their price target on Air Products and Chemicals from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Air Products and Chemicals from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Royal Bank Of Canada dropped their price target on shares of Air Products and Chemicals from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target of $293.80.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company’s product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.