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 ($219.2m this quarter). Holder counts are more reliable. Shares outstanding: 222.3m as of 2024-06-30, 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 ≈ $258.04. Options: 37 managers hold calls ($381.8m notional), 33 hold puts ($354.5m).
Trends to Q2 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 |
| Q2 2024 | 1,680 |
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 |
| Q2 2024 | 778 | 743 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $317.1m | $229.9m | 0.72 |
| Q4 2023 | $374.6m | $496.3m | 1.32 |
| Q1 2024 | $378.8m | $394.6m | 1.04 |
| Q2 2024 | $381.8m | $354.5m | 0.93 |
Biggest buyers
| Capital Research Global Investors | Added | +3.7m |
| BlackRock Inc. | Added | +1.7m |
| NATIONAL BANK OF CANADA /FI/ | Added | +1.7m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +1.6m |
| MACQUARIE GROUP LTD | Added | +1.1m |
| NATIXIS | Added | +569.5k |
| Clearbridge Investments, LLC | Added | +389.4k |
| STATE STREET CORP | Added | +363.6k |
| BANK OF NOVA SCOTIA | Added | +333.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +325.6k |
Biggest sellers
| MORGAN STANLEY | Reduced | -7.8m |
| WELLS FARGO & COMPANY/MN | Reduced | -1.7m |
| JPMORGAN CHASE & CO | Reduced | -766.0k |
| Fayez Sarofim & Co | Reduced | -703.3k |
| TRUIST FINANCIAL CORP | Reduced | -572.5k |
| Sachem Head Capital Management LP | Sold out | -461.0k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -386.1k |
| APG Asset Management N.V. | Reduced | -357.4k |
| NORDEA INVESTMENT MANAGEMENT AB | Reduced | -339.3k |
| VIKING GLOBAL INVESTORS LP | Sold out | -338.2k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $53.8m208.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $50.6m196.2k shares |
| JANE STREET GROUP, LLC | Added | $34.3m132.8k shares |
| UBS Group AG | Added | $31.4m121.6k shares |
| Yaupon Capital Management LP | New | $28.4m110.0k shares |
| Cubist Systematic Strategies, LLC | Reduced | $20.7m80.4k shares |
| NOMURA HOLDINGS INC | New | $19.9m77.3k shares |
| Twin Tree Management, LP | Added | $17.4m67.5k shares |
| Caption Management, LLC | New | $15.2m58.8k shares |
| LUMINUS MANAGEMENT LLC | Added | $11.9m46.0k shares |
Biggest puts
| NOMURA HOLDINGS INC | New | $64.5m250.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $58.0m224.7k shares |
| CITADEL ADVISORS LLC | Reduced | $45.7m177.0k shares |
| UBS Group AG | Added | $27.1m105.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $18.4m71.4k shares |
| IMC-Chicago, LLC | Added | $14.4m55.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $14.4m55.8k shares |
| JANE STREET GROUP, LLC | Reduced | $13.4m52.0k shares |
| Cubist Systematic Strategies, LLC | Added | $13.1m50.7k shares |
| Twin Tree Management, LP | New | $12.3m47.8k 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.10% of their portfolio | 21.1m $5.4bn | Added +91.0k |
| BlackRock Inc. 0.10% of their portfolio | 16.8m $4.3bn | Added +1.7m |
| Capital Research Global Investors 0.85% of their portfolio | 14.9m $3.9bn | Added +3.7m |
| JPMORGAN CHASE & CO 0.14% of their portfolio | 13.0m $3.3bn | Reduced -766.0k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 2.87% of their portfolio | 12.3m $3.2bn | Unchanged |
| STATE STREET CORP 0.11% of their portfolio | 10.0m $2.6bn | Added +363.6k |
| BANK OF AMERICA CORP /DE/ 0.14% of their portfolio | 5.6m $1.5bn | Reduced -65.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.11% of their portfolio | 4.8m $1.2bn | Added +145.9k |
| FRANKLIN RESOURCES INC 0.35% of their portfolio | 4.4m $1.1bn | Reduced -331.9k |
| MORGAN STANLEY 0.07% of their portfolio | 3.7m $950.4m | Reduced -7.8m |
| NORTHERN TRUST CORP 0.15% of their portfolio | 3.5m $911.2m | Reduced -114.2k |
| NORGES BANK 0.13% of their portfolio | 3.4m $888.7m | Reduced -251.0k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 2.70% of their portfolio | 3.1m $790.4m | Added +122.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.22% of their portfolio | 2.8m $720.6m | Added +1.6m |
| WELLS FARGO & COMPANY/MN 0.17% of their portfolio | 2.5m $640.0m | Reduced -1.7m |
| ROYAL BANK OF CANADA 0.14% of their portfolio | 2.3m $589.7m | Added +84.7k |
| FMR LLC 0.04% of their portfolio | 2.3m $583.0m | Reduced -210.4k |
| Bank of New York Mellon Corp 0.10% of their portfolio | 2.0m $525.1m | Added +5.1k |
| RAYMOND JAMES & ASSOCIATES 0.34% of their portfolio | 2.0m $518.6m | Reduced -89.6k |
| Clearbridge Investments, LLC 0.41% of their portfolio | 1.9m $499.7m | Added +389.4k |
| NATIONAL BANK OF CANADA /FI/ 0.69% of their portfolio | 1.8m $444.4m | Added +1.7m |
| LONDON CO OF VIRGINIA 2.60% of their portfolio | 1.8m $462.6m | Added +60.9k |
| UBS Group AG 0.13% of their portfolio | 1.7m $427.8m | Added +148.4k |
| STIFEL FINANCIAL CORP 0.47% of their portfolio | 1.6m $416.6m | Reduced -28.1k |
| Amundi 0.15% of their portfolio | 1.5m $382.4m | Added +112.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.06% of their portfolio | 1.2m $318.7m | Added +41.0k |
| GOLDMAN SACHS GROUP INC 0.06% of their portfolio | 1.2m $313.0m | Added +267.6k |
| DIMENSIONAL FUND ADVISORS LP 0.08% of their portfolio | 1.2m $305.1m | Added +84.2k |
| Bahl & Gaynor LLC 1.68% of their portfolio | 1.2m $300.8m | Reduced -187.4k |
| Legal & General Group Plc 0.08% of their portfolio | 1.2m $297.3m | Reduced -20.5k |
| MACQUARIE GROUP LTD 0.33% of their portfolio | 1.1m $289.0m | Added +1.1m |
| BARCLAYS PLC 0.13% of their portfolio | 1.1m $282.3m | Reduced -20.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.08% of their portfolio | 1.0m $266.3m | Added +325.6k |
| Ensign Peak Advisors, Inc 0.48% of their portfolio | 1.0m $264.0m | Added +85.7k |
| Raymond James Financial Services Advisors, Inc. 0.37% of their portfolio | 999.2k $257.8m | Added +22.4k |
| BANK OF MONTREAL /CAN/ 0.08% of their portfolio | 931.4k $266.8m | Added +319.3k |
| NEUBERGER BERMAN GROUP LLC 0.20% of their portfolio | 922.4k $238.0m | Reduced -39.7k |
| Invesco Ltd. 0.05% of their portfolio | 913.6k $235.7m | Reduced -72.9k |
| PUBLIC INVESTMENT FUND 1.24% of their portfolio | 843.5k $217.7m | Unchanged |
| ProShare Advisors LLC 0.55% of their portfolio | 796.2k $205.5m | Added +98.7k |
| HSBC HOLDINGS PLC 0.13% of their portfolio | 784.8k $203.5m | Added +320.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.07% of their portfolio | 782.2k $201.8m | Reduced -332.6k |
| PNC Financial Services Group, Inc. 0.13% of their portfolio | 757.4k $195.4m | Reduced -14.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.12% of their portfolio | 756.5k $195.2m | Reduced -73.8k |
| Swiss National Bank 0.12% of their portfolio | 658.2k $169.8m | Reduced -7.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.12% of their portfolio | 604.0k $155.9m | Reduced -37.3k |
| NATIXIS 0.98% of their portfolio | 599.2k $154.6m | Added +569.5k |
| DAVENPORT & Co LLC 0.97% of their portfolio | 593.5k $153.8m | Reduced -34.0k |
| Nuveen Asset Management, LLC 0.04% of their portfolio | 532.5k $137.4m | Reduced -30.8k |
| NORDEA INVESTMENT MANAGEMENT AB 0.16% of their portfolio | 521.2k $136.3m | Reduced -339.3k |
| Fayez Sarofim & Co 0.33% of their portfolio | 470.3k $121.4m | Reduced -703.3k |
| CINCINNATI INSURANCE CO 2.00% of their portfolio | 469.2k $121.1m | Unchanged |
| Scharf Investments, LLC 3.38% of their portfolio | 459.2k $118.5m | Added +99.4k |
| RHUMBLINE ADVISERS 0.10% of their portfolio | 432.3k $111.5m | Reduced -2.7k |
| Corient Private Wealth LP 0.19% of their portfolio | 423.3k $109.2m | Reduced -22.2k |
| Haverford Trust Co 1.13% of their portfolio | 416.0k $107.4m | Reduced -10.7k |
| Empower Advisory Group, LLC 0.39% of their portfolio | 409.0k $105.5m | Added +13.5k |
| National Pension Service 0.12% of their portfolio | 405.1k $104.5m | Reduced -5.3k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 393.3k $101.6m | Added +29.6k |
| M&T Bank Corp 0.34% of their portfolio | 383.5k $99.0m | Added +3.0k |
| BRISTOL JOHN W & CO INC /NY/ 1.60% of their portfolio | 382.0k $98.6m | Reduced -7.2k |
| BANK OF NOVA SCOTIA 0.18% of their portfolio | 362.8k $93.6m | Added +333.8k |
| JANE STREET GROUP, LLC 0.09% of their portfolio | 338.7k $87.4m | Added +291.2k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 336.7k $86.9m | Added +6.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 329.4k $85.0m | Added +8.1k |
| Morningstar Investment Services LLC 0.94% of their portfolio | 327.9k $86.3m | Reduced -3.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.10% of their portfolio | 326.8k $84.3m | Added +32.2k |
| NOMURA ASSET MANAGEMENT CO LTD 0.27% of their portfolio | 313.3k $80.5m | Added +28.6k |
| Ceredex Value Advisors LLC 1.52% of their portfolio | 311.2k $80.3m | Reduced -57.3k |
| CITADEL ADVISORS LLC 0.08% of their portfolio | 309.0k $79.7m | Added +109.7k |
| CITIGROUP INC 0.08% of their portfolio | 306.4k $79.1m | Added +66.5k |
| LPL Financial LLC 0.04% of their portfolio | 304.4k $78.6m | Reduced -97.8k |
| GREAT LAKES ADVISORS, LLC 0.69% of their portfolio | 301.2k $77.7m | Reduced -7.5k |
| ING GROEP NV 0.46% of their portfolio | 300.4k $77.5m | Added +283.7k |
| California Public Employees Retirement System 0.06% of their portfolio | 299.1k $77.2m | Reduced -88.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.10% of their portfolio | 295.3k $76.2m | Reduced -15.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.09% of their portfolio | 294.6k $76.0m | Reduced -13.1k |
| NOMURA HOLDINGS INC 0.48% of their portfolio | 292.6k $75.5m | Added +205.8k |
| BESSEMER GROUP INC 0.13% of their portfolio | 290.8k $75.0m | Reduced -3.7k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 288.5k $74.4m | Reduced -5.5k |
| Boston Trust Walden Corp 0.54% of their portfolio | 283.4k $73.1m | Reduced -10.2k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 254.0k $65.5m | Reduced -13.5k |
| Balyasny Asset Management L.P. 0.17% of their portfolio | 249.3k $64.3m | Added +236.5k |
| Coho Partners, Ltd. 2.22% of their portfolio | 247.2k $63.8m | Reduced -74.2k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 1.03% of their portfolio | 242.2k $62.5m | Added +17.2k |
| AVIVA PLC 0.17% of their portfolio | 235.4k $60.7m | Added +34.4k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.14% of their portfolio | 230.7k $59.5m | Added +8.3k |
| HighTower Advisors, LLC 0.09% of their portfolio | 227.1k $58.7m | Added +5.3k |
| MIZUHO MARKETS AMERICAS LLC 1.61% of their portfolio | 226.6k $58.5m | Added +187.4k |
| Janney Montgomery Scott LLC 0.18% of their portfolio | 226.3k $58.4m | Reduced -1.5k |
| Russell Investments Group, Ltd. 0.09% of their portfolio | 220.1k $57.5m | Reduced -37.8k |
| Mariner, LLC 0.11% of their portfolio | 214.9k $55.5m | Reduced -18.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.10% of their portfolio | 213.2k $55.0m | Reduced -4.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.10% of their portfolio | 206.5k $53.3m | Reduced -28.2k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.31% of their portfolio | 199.5k $51.5m | Added +46.5k |
| GUGGENHEIM CAPITAL LLC 0.35% of their portfolio | 191.1k $49.3m | Reduced -10.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.10% of their portfolio | 190.0k $49.0m | Reduced -13.4k |
| RNC CAPITAL MANAGEMENT LLC 2.68% of their portfolio | 187.2k $48.3m | Added +35.4k |
| Vest Financial, LLC 1.16% of their portfolio | 186.8k $48.2m | Added +41.2k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 181.2k $46.7m | Reduced -4.0k |