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In recent trading activity, Nelson Walter L., the Senior Vice President of Global Helium & Rare Gas at Air Products & Chemicals, Inc. (NYSE:APD), sold 589 shares of the company’s common stock. The shares were sold at a price of $308.50 each, amounting to a total transaction value of $181,706. Following this sale, Nelson retains ownership of 719 shares in the company. Additionally, he holds 180 shares indirectly through a retirement savings plan. This transaction was reported in a filing with the Securities and Exchange Commission on March 6, 2025. The stock, which currently trades at a P/E ratio of 18.03 and offers a 2.3% dividend yield, has maintained dividend payments for 55 consecutive years, according to InvestingPro data.
In other recent news, Air Products & Chemicals Inc. announced a significant financial adjustment, planning to record a pre-tax charge of up to $3.1 billion in its fiscal second quarter of 2025 due to exiting three major projects. This decision, led by new CEO Eduardo Menezes, involves terminating agreements for projects in California, New York, and Texas, driven by challenging commercial conditions and regulatory changes. Despite this, Air Products assured investors that the charge would not affect its adjusted earnings per share for fiscal 2025. Analysts have been active in revising their outlooks for the company, with Jefferies raising its price target to $417, maintaining a Buy rating, while BMO Capital and JPMorgan have downgraded their ratings to Market Perform and Neutral, respectively, citing concerns over financial targets and project risks.
The company’s recent strategic moves have drawn attention, with BMO Capital acknowledging Menezes’ proactive leadership but expressing caution due to the financial impact of the write-down. Meanwhile, JPMorgan highlighted potential risks in earnings growth due to industrial gas price stabilization and currency effects, lowering their price target to $320. Despite these downgrades, Jefferies remains optimistic, expecting future strategic updates to potentially enhance stock performance. Air Products continues to focus on its major projects, including the NEOM green hydrogen project and the Louisiana Clean Energy Complex, while seeking equity partners to reduce capital costs. These developments signal a period of transition and strategic reassessment for Air Products as it navigates current challenges.
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