PNC Financial Services Group Inc. Has $108.34 Million Stake in Air Products and Chemicals, Inc. $APD

PNC Financial Services Group Inc. lowered its stake in Air Products and Chemicals, Inc. (NYSE:APD) by 5.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 397,263 shares of the basic materials company’s stock after selling 24,860 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Air Products and Chemicals were worth $108,342,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Air Products and Chemicals by 1.5% during the second quarter. Vanguard Group Inc. now owns 21,739,830 shares of the basic materials company’s stock worth $6,131,936,000 after purchasing an additional 324,885 shares during the period. State Street Corp lifted its stake in shares of Air Products and Chemicals by 1.9% in the second quarter. State Street Corp now owns 9,452,914 shares of the basic materials company’s stock worth $2,666,289,000 after buying an additional 180,056 shares during the last quarter. Dodge & Cox grew its stake in Air Products and Chemicals by 0.7% in the 2nd quarter. Dodge & Cox now owns 8,821,400 shares of the basic materials company’s stock valued at $2,488,164,000 after buying an additional 61,678 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Air Products and Chemicals by 5.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,434,228 shares of the basic materials company’s stock worth $1,814,839,000 after acquiring an additional 310,799 shares during the period. Finally, Geode Capital Management LLC lifted its position in Air Products and Chemicals by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 5,134,550 shares of the basic materials company’s stock worth $1,450,526,000 after acquiring an additional 27,256 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 4.0%

Shares of APD stock opened at $279.95 on Monday. The firm has a fifty day moving average of $259.41 and a 200-day moving average of $267.50. The stock has a market cap of $62.33 billion, a price-to-earnings ratio of -185.40, a P/E/G ratio of 2.74 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 $321.47. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.23 and a current ratio of 1.46.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Friday, January 30th. The basic materials company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.12. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a negative net margin of 2.73% and a positive return on equity of 15.77%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.86 earnings per share. Air Products and Chemicals has set its Q2 2026 guidance at 2.950-3.100 EPS and its FY 2026 guidance at 12.850-13.150 EPS. On average, equities research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Wednesday, April 1st will be paid a $1.81 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $7.24 annualized dividend and a yield of 2.6%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.79. Air Products and Chemicals’s payout ratio is presently -474.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APD. Sanford C. Bernstein reissued an “outperform” rating and set a $315.00 price objective on shares of Air Products and Chemicals in a research report on Monday, February 2nd. Citigroup raised their price objective on shares of Air Products and Chemicals from $272.00 to $285.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Wells Fargo & Company upped their target price on shares of Air Products and Chemicals from $250.00 to $270.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. UBS Group raised their price target on shares of Air Products and Chemicals from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $282.00 price objective on shares of Air Products and Chemicals in a research report on Monday, February 2nd. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $295.88.

Insiders Place Their Bets

In other Air Products and Chemicals news, Director Ridge Lp Mantle sold 70,175 shares of Air Products and Chemicals stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $284.21, for a total transaction of $19,944,436.75. Following the completion of the transaction, the director directly owned 93,499 shares of the company’s stock, valued at approximately $26,573,350.79. This trade represents a 42.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.88% of the stock is owned by company insiders.

Air Products and Chemicals Company Profile

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.