Argus Research upgrades Air Products and Chemicals to Buy from Hold.

Argus Research upgrades Air Products and Chemicals to Buy from Hold.

Argus Research has upgraded its rating on Air Products and Chemicals, Inc. (NYSE: APD) from Hold to Buy, reflecting a positive outlook on the company's prospects. The upgrade comes amidst a series of institutional stake adjustments and recent earnings reports that have bolstered investor confidence.

According to the latest 13F filings, USS Investment Management Ltd. reduced its stake in Air Products and Chemicals by 22.2%, selling 10,200 shares and holding 35,673 shares valued at $10.5 million USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. Meanwhile, Dodge & Cox significantly increased its stake by 31.5%, now owning approximately $2.58 billion worth of the company's shares USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. These moves highlight active institutional interest in the stock.

Air Products and Chemicals recently reported its quarterly earnings data, with earnings per share (EPS) of $3.09, exceeding analysts' consensus estimates of $2.99 USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. The company also announced a quarterly dividend of $1.79 per share, to be paid on November 10th, with an annualized yield of 2.5% USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1].

Several other large investors have also added to or reduced their stakes in the stock. Mantle Ridge LP bought a new position in Air Products and Chemicals in the fourth quarter worth about $1,191,344,000 USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. Raymond James Financial Inc. boosted its stake by 1.4% in the first quarter USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. Royal Bank of Canada boosted its stake by 1.5% in the fourth quarter USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. Principal Financial Group Inc. boosted its stake by 159.2% in the first quarter USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. Institutional investors own 81.66% of the company's stock USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1].

The stock's performance has been robust, with shares opening at $289.70 on Monday and a market cap of $64.47 billion. The company has a price-to-earnings ratio of 41.68 and a beta of 0.82 USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1]. The stock's 50-day moving average is $291.70 and its 200-day moving average is $284.89 USS Investment Management Ltd Sells 10,200 Shares of Air Products and Chemicals, Inc. $APD^[1].

The upgrade by Argus Research, coupled with the positive earnings reports and increased institutional interest, suggests a favorable outlook for Air Products and Chemicals. Investors should closely monitor the company's future earnings and dividend announcements to gauge its continued performance.