Air Products and Chemicals Inc. (NYSE:APD) was upgraded by investment analysts at Atlantic Securities from an “underweight” rating to a “neutral” rating in a report issued on Friday, The Fly reports.
Several other equities analysts also recently weighed in on APD. Citigroup Inc. reissued a “hold” rating on shares of Air Products and Chemicals in a research report on Sunday, July 17th. Zacks Investment Research raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Jefferies Group restated a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 29th. Credit Suisse Group AG set a $163.00 price objective on Air Products and Chemicals and gave the company a “buy” rating in a report on Monday, September 12th. Finally, Morgan Stanley restated a “hold” rating on shares of Air Products and Chemicals in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $152.79.
Air Products and Chemicals (NYSE:APD) opened at 150.51 on Friday. The stock’s 50 day moving average price is $152.02 and its 200 day moving average price is $146.38. The company has a market capitalization of $32.59 billion, a P/E ratio of 56.31 and a beta of 1.19. Air Products and Chemicals has a one year low of $114.64 and a one year high of $157.84.
Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.41 billion. Air Products and Chemicals had a return on equity of 22.00% and a net margin of 6.12%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. Equities analysts anticipate that Air Products and Chemicals will post $7.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, October 6th. Air Products and Chemicals’s dividend payout ratio is 128.84%.
In related news, insider Russell A. Flugel sold 2,050 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $151.54, for a total transaction of $310,657.00. Following the completion of the sale, the insider now directly owns 3,131 shares in the company, valued at approximately $474,471.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Guillermo Novo sold 7,997 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $149.58, for a total value of $1,196,191.26. Following the sale, the vice president now owns 23,590 shares of the company’s stock, valued at $3,528,592.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of Air Products and Chemicals by 15.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 736 shares of the company’s stock worth $106,000 after buying an additional 99 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Air Products and Chemicals by 8.9% in the second quarter. Parkside Financial Bank & Trust now owns 793 shares of the company’s stock worth $113,000 after buying an additional 65 shares during the period. Cantab Capital Partners LLP bought a new stake in shares of Air Products and Chemicals during the second quarter worth $113,000. M&R Capital Management Inc. bought a new stake in shares of Air Products and Chemicals during the second quarter worth $149,000. Finally, Sii Investments Inc. WI bought a new stake in shares of Air Products and Chemicals during the second quarter worth $217,000. Hedge funds and other institutional investors own 88.50% of the company’s stock.
Air Products and Chemicals Company Profile
Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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