The State of New Jersey Common Pension Fund D has raised its investment in Air Products and Chemicals, Inc. (NYSE: APD) by 4.5% during the third quarter. According to a recent filing with the Securities and Exchange Commission, the fund now holds a total of 77,890 shares, having acquired an additional 3,365 shares in the period. As of the latest filing, these shares are valued at approximately $21.24 million.
Other institutional investors have also made notable adjustments to their holdings in Air Products and Chemicals. Meadow Creek Wealth Advisors LLC increased its stake by 1.6% during the second quarter, bringing its ownership to 2,276 shares valued at $642,000. Similarly, YANKCOM Partnership raised its position by 1.3%, now owning 2,805 shares worth $791,000, while Atlatl Advisers LLC grew its stake by 2.5%, holding 1,488 shares valued at $420,000.
GPS Wealth Strategies Group LLC significantly increased its position by 7.0%, now owning 568 shares worth $160,000. In the third quarter, Sage Capital Advisors LLC also raised its stake by 0.3%, now owning 14,930 shares valued at $4.07 million. Overall, hedge funds and institutional investors now collectively own 81.66% of Air Products and Chemicals’ stock.
Analysts Offer Mixed Ratings on Air Products and Chemicals
Equity research analysts have recently provided updates on their ratings for Air Products and Chemicals. Jefferies Financial Group raised its price target for the stock from $300.00 to $313.00, maintaining a “buy” rating. BMO Capital Markets reaffirmed a “market perform” rating with a target price of $282.00. Wells Fargo & Company lifted its price target from $250.00 to $270.00, while UBS Group increased its price objective from $250.00 to $285.00, giving the stock a “neutral” rating.
Despite the mixed reviews, eight investment analysts have assigned a “buy” rating to the stock, while seven have issued a “hold” rating, and one has suggested a “sell.” According to MarketBeat.com, the consensus rating for Air Products and Chemicals is currently “hold,” with an average target price of $295.88.
Stock Performance and Financial Outlook
As of Monday, the stock opened at $279.95, reflecting a recent decline of 4.0%. The company has a market capitalization of $62.33 billion and a price-to-earnings (P/E) ratio of -185.40. Over the past year, Air Products and Chemicals has experienced a low of $229.11 and a high of $321.47. Its 50-day simple moving average stands at $259.41, while the 200-day average is at $267.50.
The company reported its earnings results on January 30, revealing earnings per share (EPS) of $3.16, surpassing analysts’ expectations of $3.04 by $0.12. Revenue during the quarter reached $3.10 billion, exceeding the consensus estimate of $3.05 billion. Air Products and Chemicals also disclosed a negative net margin of 2.73% but boasted a positive return on equity of 15.77%. This represents a 5.8% year-over-year increase in quarterly revenue.
Looking ahead, the company has set its guidance for the second quarter of 2026 at an EPS range of 2.950-3.100 and for the full fiscal year at 12.850-13.150 EPS. Analysts predict an average of 12.69 EPS for the current year.
Air Products and Chemicals has also announced a quarterly dividend of $1.81 per share, payable on May 11 to investors of record by April 1. This marks an increase from the previous quarterly dividend of $1.79, representing an annualized dividend yield of 2.6%. The ex-dividend date for this distribution is April 1.
In a separate development, Director Ridge Lp Mantle sold 70,175 shares on February 12 at an average price of $284.21, totaling approximately $19.94 million. Following this sale, Mantle retained 93,499 shares valued at $26.57 million, reflecting a 42.87% decrease in their holdings.
Air Products and Chemicals, headquartered in Allentown, Pennsylvania, is a leading global supplier of industrial gases and related services. The company produces and delivers various atmospheric gases, including oxygen, nitrogen, and argon, along with specialty gases used in numerous industrial applications. Its offerings encompass packaged and bulk gas supply, pipeline distribution, and on-site generation systems, catering to customer needs for reliable, high-purity gases.
