NTV Asset Management 13F: New $851K Stake in APD
Key Points
- NTV Asset Management opened a new position in Air Products and Chemicals, Inc. (NYSE:APD) by acquiring 3,060 shares valued at $851,384.
- The stock recently traded near $308.22, remaining below its 52-week high of $314.87 and above its 52-week low of $229.11.
- Air Products pays an annual dividend rate of $7.24 with a dividend yield of 2.35%, backed by a payout ratio of 75.7%.
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NTV Asset Management took a new stake in Air Products and Chemicals, Inc. (NYSE:APD), purchasing 3,060 shares valued at $851,384. The investment was revealed in a Form 13F filing with the Securities and Exchange Commission on October 23, 2026.
APD
Air Products and Chemicals, Inc.
What Changed in NTV Asset Management's Air Products and Chemicals, Inc. Position
The fund opened a brand-new position in the specialty chemicals company during the quarter, bringing its total holding to 3,060 shares. The reported value of the newly initiated stake reached $851,384.
Other Institutional Activity in Air Products and Chemicals, Inc.
Other large investors adjusted their holdings in the company as well. PensionDanmark Pensionsforsikringsaktieselskab trimmed its holdings by 10,646 shares, ending with 33,940 shares worth about $9,443,126 following a 23.9% decrease. Waverly Advisors grew its holdings by 977 shares, ending with 32,003 shares worth about $9,489,209.84 after a 3.1% increase. Bank of America grew its holdings by 556,188 shares, ending with 4,443,531 shares worth about $1,317,551,420.20 after a 14.3% increase. State Farm Mutual Automobile Insurance Co kept its stake unchanged, holding 11,840,799 shares worth about $3,636,901,340.00.
Air Products and Chemicals, Inc. Stock Up 1.8%
Air Products and Chemicals closed at $307.15 on October 23, 2026, and recently traded around $308.22 on October 24, 2026. The shares trade below their 52-week high of $314.87 and above their 52-week low of $229.11. The recent price sits above both its 50-day moving average of $293.60 and its 200-day moving average of $288.74.
Recent Earnings
Air Products and Chemicals posted trailing twelve-month revenue of $12.6 billion with a year-over-year revenue growth rate of 4.6%. The company reported a net profit margin of -0.4% and an earnings per share of -$0.21 over the trailing period. Management scheduled the next earnings release for November 5, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 3.4%. Revenue beat estimates by 2.4%.
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Profit surprise
EBITDA met by 1 percent. Operating income beat by 20 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises.
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Earnings quality
Gross margin up 1.6 points. Operating margin up 103.6 points. Positive free cash flow.
Earnings Call Summary
The quarter delivered strong underlying results with adjusted operating income up 12 percent and margins expanding to 24.4 percent despite sluggish economic conditions. Pricing actions and productivity drove gains across segments, though helium sales fell about 4 percent for the year due to tough prior-year comparisons. Management remains focused on disciplined capital spending, the Darrow ammonia project negotiations with Yara, and bringing new assets online in electronics and aerospace sectors.
Guidance Air Products kept its full-year profit guidance at $12.85 to $13.15 per share, expecting 7 to 9 percent growth. For the next quarter, they said earnings would be $2.95 to $3.10 per share, about 10 to 15 percent higher than last year. The company faces helium weakness but sees pricing gains offsetting that.
Good report. The company beat and showed some forward improvement, with a few meaningful caveats.
Dividend
Air Products and Chemicals pays an annual dividend rate of $7.24, which translates to a dividend yield of 2.35%. The company maintains a dividend payout ratio of 75.7%.
Insider Buying and Selling at Air Products and Chemicals, Inc.
Insiders completed several transactions leading up to the filing. Director Andrew W Evans sold 5 shares for a total of $1,416 on April 3, 2025. Officer Victoria Brifo sold 1,359 shares for $397,344 on August 5, 2025. Beneficial owner L.P. Mantle Ridge sold 70,175 shares for $19,944,437 on February 12, 2026. Chief Financial Officer Melissa N Schaeffer sold 2,714 shares for $824,405 on May 1, 2026.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock ahead of the filing. On September 11, 2026, Keybanc initiated coverage with a Sector Weight rating. UBS maintained a neutral rating with a $305.00 price target on October 5, 2026. Citigroup maintained a neutral rating with a $312.00 price target on October 7, 2026. Barclays initiated an overweight rating with a $353.00 price target on October 13, 2026. RBC Capital maintained an outperform rating with a $346.00 price target on October 15, 2026. Overall, the stock carries a buy recommendation from analysts, with a mean price target of $342.55 across 20 opinions.
About Air Products and Chemicals, Inc.
Air Products and Chemicals supplies industrial gases, equipment, and related services for customers across energy, environmental, and industrial sectors globally. The company operates production facilities and distribution networks that support manufacturing and processing applications worldwide.
Bottom Line
Investors will watch the upcoming earnings report on November 5, 2026, for updates on profitability and revenue trends. Future SEC filings will show whether institutional interest continues to grow.
Related Filing Alerts
Source: NTV Asset Management's 13F filing on $APD (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts