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Bols Ivo, the President of Europe & Africa at Air Products & Chemicals, Inc. (NYSE:APD), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Ivo sold 18,000 shares of common stock on February 18, 2025. The shares were sold at prices ranging from $312.63 to $315.88, with an average transaction price of $313.82, resulting in a total sale value of approximately $5.65 million.
Following this transaction, Ivo retains ownership of 10,087.641 shares in the company. This sale marks a notable shift in his holdings, drawing attention from investors and market watchers alike.
In other recent news, Air Products & Chemicals Inc. reported first-quarter earnings per share of $2.86, slightly above analyst expectations, though revenues fell short at $2.93 billion compared to the anticipated $2.96 billion. The company also issued guidance for the second quarter and full fiscal year 2025, which did not meet consensus estimates, forecasting an adjusted EPS range of $2.75 to $2.85 for the upcoming quarter. In analyst updates, Jefferies raised the price target for Air Products to $417, maintaining a Buy rating, while BMO Capital Markets downgraded the stock to Market Perform and lowered the price target to $346. JPMorgan also downgraded the stock to Neutral, reducing the price target to $320, citing potential risks to earnings growth. Additionally, Air Products announced amendments to its corporate bylaws, including the creation of a Vice Chairman role, and appointed Wayne T. Smith as Chairman and Dennis H. Reilley as Vice Chairman. These changes aim to strengthen the company’s governance structure. Despite the mixed financial results, Air Products continues its commitment to shareholder value, increasing its quarterly dividend for the 43rd consecutive year.
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