QRG Capital Management Inc. Grows Position in Air Products and Chemicals, Inc. $APD

QRG Capital Management Inc. increased its holdings in Air Products and Chemicals, Inc. (NYSE:APD) by 1,378.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 111,479 shares of the basic materials company’s stock after purchasing an additional 103,937 shares during the period. QRG Capital Management Inc.’s holdings in Air Products and Chemicals were worth $30,502,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp lifted its stake in Air Products and Chemicals by 277.4% during the 2nd quarter. State Street Corp now owns 38,161,451 shares of the basic materials company’s stock valued at $10,597,451,000 after acquiring an additional 28,050,956 shares during the period. BlackRock Inc. bought a new stake in shares of Air Products and Chemicals in the second quarter worth approximately $5,370,093,000. Norges Bank purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $1,063,906,000. Bank of America Corp DE purchased a new position in shares of Air Products and Chemicals during the second quarter valued at approximately $1,216,976,000. Finally, Capital International Investors lifted its position in Air Products and Chemicals by 44.2% during the fourth quarter. Capital International Investors now owns 12,792,580 shares of the basic materials company’s stock valued at $3,160,023,000 after purchasing an additional 3,922,567 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Performance

NYSE APD traded down $1.09 during trading hours on Wednesday, hitting $286.77. 922,868 shares of the company’s stock traded hands, compared to its average volume of 1,300,883. The business’s fifty day moving average price is $298.45 and its two-hundred day moving average price is $293.36. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $63.86 billion, a P/E ratio of -1,303.51, a P/E/G ratio of 2.82 and a beta of 0.75. Air Products and Chemicals, Inc. has a 52 week low of $229.11 and a 52 week high of $314.87.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.13. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $3.09 earnings per share. Air Products and Chemicals has set its FY 2026 guidance at 13.390-13.490 EPS and its Q4 2026 guidance at 3.550-3.650 EPS. Equities research analysts predict that Air Products and Chemicals, Inc. will post 13.46 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Thursday, October 1st will be issued a $1.81 dividend. This represents a $7.24 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently -3,290.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Evercore restated an “outperform” rating and issued a $342.00 target price on shares of Air Products and Chemicals in a report on Friday, July 10th. Morgan Stanley set a $320.00 price target on Air Products and Chemicals in a report on Monday, August 3rd. Wells Fargo & Company raised their price target on Air Products and Chemicals from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $373.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 31st. Finally, Mizuho upped their price objective on Air Products and Chemicals from $345.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $336.53.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc is a global industrial gases and chemicals company headquartered in Allentown, Pennsylvania. Founded in 1940, the company supplies atmospheric and process gases, including oxygen, nitrogen, argon, hydrogen, helium, carbon monoxide and syngas, along with related equipment and technical services.

Air Products serves customers in industries such as refining, chemicals, metals, electronics, manufacturing, food and beverage, healthcare and energy. Its offerings support applications including combustion, metal fabrication, semiconductor production, food preservation, medical care and industrial processing.