AIR PRODS & CHEMS INC APD
COM · Common Stock · CUSIP 009158106 · ISIN US0091581068
- SectorMaterials
- IndustryIndustrial Inorganic Chemicals
- HeadquartersAllentown, PA
- Founded1940
- Websiteairproducts.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($217.1m this quarter). Holder counts are more reliable. Shares outstanding: 222.3m as of 2024-03-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $242.31. Options: 40 managers hold calls ($378.8m notional), 33 hold puts ($394.6m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,474 |
| Q4 2022 | 1,613 |
| Q1 2023 | 1,587 |
| Q2 2023 | 1,621 |
| Q3 2023 | 1,631 |
| Q4 2023 | 1,717 |
| Q1 2024 | 1,658 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 730 | 656 |
| Q1 2023 | 757 | 672 |
| Q2 2023 | 734 | 677 |
| Q3 2023 | 749 | 677 |
| Q4 2023 | 724 | 770 |
| Q1 2024 | 805 | 800 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $283.7m | $210.4m | 0.74 |
| Q3 2023 | $317.1m | $229.9m | 0.72 |
| Q4 2023 | $374.6m | $496.3m | 1.32 |
| Q1 2024 | $378.8m | $394.6m | 1.04 |
Biggest buyers
| Capital Research Global Investors | Added | +4.3m |
| ROYAL BANK OF CANADA | Added | +1.6m |
| MORGAN STANLEY | Added | +1.4m |
| FMR LLC | Added | +1.2m |
| FRANKLIN RESOURCES INC | Added | +1.1m |
| NORGES BANK | Added | +581.9k |
| LONDON CO OF VIRGINIA | Added | +521.0k |
| Clearbridge Investments, LLC | Added | +520.2k |
| Sachem Head Capital Management LP | New | +461.0k |
| MILLENNIUM MANAGEMENT LLC | Added | +446.6k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -5.0m |
| PUBLIC INVESTMENT FUND | Reduced | -1.9m |
| NEUBERGER BERMAN GROUP LLC | Reduced | -796.3k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -664.7k |
| KING LUTHER CAPITAL MANAGEMENT CORP | Reduced | -653.7k |
| FIRST TRUST ADVISORS LP | Reduced | -592.5k |
| Ninety One UK Ltd | Sold out | -501.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -448.7k |
| MARSHALL WACE, LLP | Reduced | -389.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -368.6k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $80.8m333.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $55.8m230.3k shares |
| SIMPLEX TRADING, LLC | Added | $35.8m147.9k shares |
| JANE STREET GROUP, LLC | Added | $23.0m95.1k shares |
| Cubist Systematic Strategies, LLC | Added | $19.6m80.9k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $16.1m66.6k shares |
| Walleye Capital LLC | Added | $12.7m52.6k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $11.8m48.9k shares |
| SCOPUS ASSET MANAGEMENT, L.P. | New | $10.9m45.0k shares |
| GTS SECURITIES LLC | Added | $10.9m44.8k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $87.8m362.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $59.3m244.7k shares |
| BANK OF AMERICA CORP /DE/ | New | $48.0m198.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $19.2m79.1k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $18.0m74.4k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $14.9m61.7k shares |
| Walleye Capital LLC | Added | $13.7m56.6k shares |
| JANE STREET GROUP, LLC | Added | $13.4m55.4k shares |
| Cubist Systematic Strategies, LLC | Added | $12.0m49.5k shares |
| Parallax Volatility Advisers, L.P. | Added | $11.9m49.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 6.6% |
Fell to 5% or below in the last year: Capital Research Global Investors (4.7%, 2026-05-14), Capital International Investors (4.6%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 1 | $151.8k | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 1 | $5.4m | 1 | $28.3k | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.10% of their portfolio | 21.0m $5.1bn | Added +30.7k |
| BlackRock Inc. 0.09% of their portfolio | 15.0m $3.6bn | Reduced -135.4k |
| JPMORGAN CHASE & CO 0.15% of their portfolio | 13.7m $3.3bn | Reduced -5.0m |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 2.68% of their portfolio | 12.3m $3.0bn | Unchanged |
| MORGAN STANLEY 0.07% of their portfolio | 11.5m $2.8bn | Added +1.4m |
| Capital Research Global Investors 0.62% of their portfolio | 11.2m $2.7bn | Added +4.3m |
| STATE STREET CORP 0.10% of their portfolio | 9.6m $2.3bn | Reduced -25.2k |
| BANK OF AMERICA CORP /DE/ 0.14% of their portfolio | 5.7m $1.4bn | Added +72.6k |
| FRANKLIN RESOURCES INC 0.36% of their portfolio | 4.7m $1.1bn | Added +1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.10% of their portfolio | 4.6m $1.1bn | Added +209.5k |
| WELLS FARGO & COMPANY/MN 0.27% of their portfolio | 4.2m $1.0bn | Added +129.8k |
| NORGES BANK 0.14% of their portfolio | 3.7m $895.1m | Added +581.9k |
| NORTHERN TRUST CORP 0.15% of their portfolio | 3.6m $883.2m | Reduced -109.6k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 2.40% of their portfolio | 2.9m $712.3m | Added +226.9k |
| FMR LLC 0.04% of their portfolio | 2.5m $598.3m | Added +1.2m |
| ROYAL BANK OF CANADA 0.13% of their portfolio | 2.2m $533.1m | Added +1.6m |
| RAYMOND JAMES & ASSOCIATES 0.34% of their portfolio | 2.1m $508.6m | Added +167.8k |
| Bank of New York Mellon Corp 0.09% of their portfolio | 2.0m $491.7m | Added +64.4k |
| LONDON CO OF VIRGINIA 2.21% of their portfolio | 1.7m $419.5m | Added +521.0k |
| STIFEL FINANCIAL CORP 0.45% of their portfolio | 1.6m $397.9m | Added +133.7k |
| Clearbridge Investments, LLC 0.30% of their portfolio | 1.5m $374.8m | Added +520.2k |
| UBS Group AG 0.12% of their portfolio | 1.5m $365.7m | Added +208.9k |
| Amundi 0.14% of their portfolio | 1.4m $326.1m | Added +374.7k |
| Bahl & Gaynor LLC 1.82% of their portfolio | 1.4m $327.8m | Reduced -114.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.09% of their portfolio | 1.2m $297.6m | Reduced -448.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.07% of their portfolio | 1.2m $289.3m | Added +27.5k |
| Fayez Sarofim & Co 0.85% of their portfolio | 1.2m $284.3m | Added +7.3k |
| Legal & General Group Plc 0.08% of their portfolio | 1.2m $284.0m | Reduced -10.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.10% of their portfolio | 1.1m $270.1m | Added +265.5k |
| BARCLAYS PLC 0.12% of their portfolio | 1.1m $269.9m | Added +328.3k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 1.1m $266.0m | Added +104.6k |
| Invesco Ltd. 0.05% of their portfolio | 986.5k $239.0m | Added +70.5k |
| Raymond James Financial Services Advisors, Inc. 0.35% of their portfolio | 976.8k $236.6m | Added +2.2k |
| NEUBERGER BERMAN GROUP LLC 0.19% of their portfolio | 962.0k $233.1m | Reduced -796.3k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 945.2k $229.0m | Reduced -137.7k |
| Ensign Peak Advisors, Inc 0.41% of their portfolio | 937.3k $227.1m | Added +63.2k |
| NORDEA INVESTMENT MANAGEMENT AB 0.25% of their portfolio | 860.5k $207.8m | Added +342.3k |
| PUBLIC INVESTMENT FUND 1.14% of their portfolio | 843.5k $204.4m | Reduced -1.9m |
| PRINCIPAL FINANCIAL GROUP INC 0.12% of their portfolio | 830.3k $201.1m | Reduced -17.4k |
| PNC Financial Services Group, Inc. 0.13% of their portfolio | 771.9k $187.0m | Reduced -49.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio | 706.4k $171.1m | Added +33.3k |
| TRUIST FINANCIAL CORP 0.26% of their portfolio | 705.4k $170.9m | Added +5.3k |
| ProShare Advisors LLC 0.45% of their portfolio | 697.6k $169.0m | Added +90.4k |
| Swiss National Bank 0.11% of their portfolio | 665.5k $161.2m | Reduced -29.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.11% of their portfolio | 641.4k $155.4m | Added +7.9k |
| DAVENPORT & Co LLC 0.95% of their portfolio | 627.5k $152.2m | Added +183.5k |
| BANK OF MONTREAL /CAN/ 0.05% of their portfolio | 612.1k $148.6m | Reduced -314.3k |
| Nuveen Asset Management, LLC 0.04% of their portfolio | 563.2k $136.5m | Reduced -35.0k |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 562.6k $136.3m | Added +446.6k |
| CINCINNATI INSURANCE CO 1.87% of their portfolio | 469.2k $113.7m | Unchanged |
| HSBC HOLDINGS PLC 0.08% of their portfolio | 464.1k $112.4m | Added +63.2k |
| Sachem Head Capital Management LP 5.17% of their portfolio | 461.0k $111.7m | New |
| Corient Private Wealth LP 0.19% of their portfolio | 445.5k $107.9m | Added +22.2k |
| RHUMBLINE ADVISERS 0.10% of their portfolio | 434.9k $105.4m | Reduced -4.3k |
| Haverford Trust Co 1.08% of their portfolio | 426.7k $103.4m | Added +2.3k |
| APG Asset Management N.V. 0.16% of their portfolio | 410.6k $92.1m | Reduced -5.9k |
| National Pension Service 0.12% of their portfolio | 410.4k $99.4m | Added +25.6k |
| LPL Financial LLC 0.05% of their portfolio | 402.3k $97.5m | Added +18.6k |
| Empower Advisory Group, LLC 0.36% of their portfolio | 395.5k $95.8m | Added +78.6k |
| BRISTOL JOHN W & CO INC /NY/ 1.61% of their portfolio | 389.2k $94.3m | Added +767 |
| California Public Employees Retirement System 0.07% of their portfolio | 388.0k $94.0m | Reduced -14.1k |
| M&T Bank Corp 0.32% of their portfolio | 380.4k $92.2m | Added +11.2k |
| Ceredex Value Advisors LLC 1.57% of their portfolio | 368.5k $89.9m | Added +24.4k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 363.8k $88.1m | Added +22.8k |
| Scharf Investments, LLC 2.36% of their portfolio | 359.8k $87.2m | New |
| D. E. Shaw & Co., Inc. 0.11% of their portfolio | 346.2k $83.9m | Added +127.3k |
| VIKING GLOBAL INVESTORS LP 0.31% of their portfolio | 338.2k $81.9m | New |
| Morningstar Investment Services LLC 0.89% of their portfolio | 331.1k $80.5m | Reduced -353.0k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 330.5k $80.1m | Added +21.8k |
| Coho Partners, Ltd. 1.91% of their portfolio | 321.4k $77.9m | Added +318.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 321.3k $77.8m | Reduced -368.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.10% of their portfolio | 310.5k $75.2m | Added +4.0k |
| GREAT LAKES ADVISORS, LLC 0.63% of their portfolio | 308.7k $74.8m | Reduced -5.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.09% of their portfolio | 307.7k $74.6m | Reduced -10.8k |
| SG Americas Securities, LLC 0.37% of their portfolio | 301.6k $73.1m | Added +246.0k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.10% of their portfolio | 294.6k $71.4m | Added +55.1k |
| BESSEMER GROUP INC 0.13% of their portfolio | 294.4k $71.3m | Reduced -129.8k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 294.0k $71.2m | Added +27.7k |
| Boston Trust Walden Corp 0.51% of their portfolio | 293.5k $71.1m | Reduced -4.2k |
| NOMURA ASSET MANAGEMENT CO LTD 0.25% of their portfolio | 284.7k $69.0m | Added +36.9k |
| Aberdeen Group plc 0.13% of their portfolio | 276.9k $67.1m | Added +7.0k |
| CREDIT SUISSE AG/ 0.06% of their portfolio | 270.0k $65.4m | Reduced -190.4k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 267.5k $64.8m | Reduced -592.5k |
| Russell Investments Group, Ltd. 0.10% of their portfolio | 257.9k $62.6m | Reduced -4.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.08% of their portfolio | 252.0k $61.1m | Added +36.2k |
| CITIGROUP INC 0.06% of their portfolio | 239.9k $58.1m | Added +17.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.16% of their portfolio | 234.7k $67.4m | Reduced -1.7k |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.26% of their portfolio | 234.3k $56.8m | Reduced -653.7k |
| Mariner, LLC 0.12% of their portfolio | 233.7k $56.6m | Reduced -9.7k |
| Janney Montgomery Scott LLC 0.16% of their portfolio | 227.8k $55.2m | Added +36.7k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.89% of their portfolio | 225.1k $54.5m | Added +179.8k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.14% of their portfolio | 222.4k $53.9m | Added +13.9k |
| HighTower Advisors, LLC 0.09% of their portfolio | 221.8k $53.7m | Reduced -39.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.10% of their portfolio | 218.0k $52.8m | Added +2.3k |
| TWO SIGMA INVESTMENTS, LP 0.12% of their portfolio | 205.2k $49.7m | Added +115.9k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.10% of their portfolio | 203.4k $49.3m | Reduced -3.2k |
| GUGGENHEIM CAPITAL LLC 0.35% of their portfolio | 201.8k $48.9m | Reduced -11.0k |
| AVIVA PLC 0.16% of their portfolio | 201.0k $48.7m | Added +22.0k |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 199.3k $48.3m | Reduced -290.9k |
| EMINENCE CAPITAL, LP 0.88% of their portfolio | 197.4k $47.8m | New |