Canandaigua National Bank & Trust Co. Invests $1.32 Million in Air Products and Chemicals, Inc. $APD

Canandaigua National Bank & Trust Co. bought a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 4,504 shares of the basic materials company’s stock, valued at approximately $1,320,000.

A number of other hedge funds have also added to or reduced their stakes in APD. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Air Products and Chemicals by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 486,719 shares of the basic materials company’s stock valued at $121,909,000 after acquiring an additional 23,760 shares in the last quarter. Assetmark Inc. grew its stake in shares of Air Products and Chemicals by 4.9% during the fourth quarter. Assetmark Inc. now owns 135,947 shares of the basic materials company’s stock worth $33,582,000 after purchasing an additional 6,342 shares in the last quarter. Castle Rock Wealth Management LLC acquired a new stake in Air Products and Chemicals in the fourth quarter valued at $1,649,000. Cardinal Capital Management Inc. boosted its position in shares of Air Products and Chemicals by 3.4% during the 4th quarter. Cardinal Capital Management Inc. now owns 124,278 shares of the basic materials company’s stock worth $30,699,000 after acquiring an additional 4,045 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Air Products and Chemicals by 22.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,511 shares of the basic materials company’s stock valued at $10,007,000 after acquiring an additional 7,485 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APD. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $320.00 target price on shares of Air Products and Chemicals in a report on Monday. Weiss Ratings cut Air Products and Chemicals from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price target on Air Products and Chemicals from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating and issued a $342.00 target price on shares of Air Products and Chemicals in a report on Friday, July 10th. Finally, Citigroup boosted their price objective on shares of Air Products and Chemicals from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average target price of $332.65.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $295.44 on Thursday. 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 stock has a 50 day moving average of $290.09 and a 200-day moving average of $287.42. The stock has a market cap of $65.79 billion, a P/E ratio of -1,342.90, a price-to-earnings-growth ratio of 2.56 and a beta of 0.73. 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 issued its earnings results on Thursday, July 30th. The basic materials company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.13. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the business posted $3.09 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. 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. On average, analysts expect that Air Products and Chemicals, Inc. will post 13.45 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $1.81 per share. This represents a $7.24 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, October 1st. Air Products and Chemicals’s payout ratio is -3,290.91%.

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.