Several other equities research analysts have also recently weighed in on APD. Citigroup Inc. reiterated a hold rating on shares of Air Products and Chemicals in a 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 reissued a hold rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 29th. Morgan Stanley reissued a hold rating on shares of Air Products and Chemicals in a research report on Thursday, June 16th. Finally, JPMorgan Chase & Co. raised Air Products and Chemicals from a neutral rating to an overweight rating and increased their target price for the stock from $140.00 to $160.00 in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Air Products and Chemicals has an average rating of Hold and a consensus price target of $151.60.
Air Products and Chemicals (NYSE:APD) opened at 136.12 on Monday. Air Products and Chemicals has a 12 month low of $114.64 and a 12 month high of $157.84. The stock has a market cap of $29.48 billion, a PE ratio of 50.92 and a beta of 1.23. The company’s 50 day moving average price is $150.93 and its 200 day moving average price is $146.54.
Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.02. Air Products and Chemicals had a return on equity of 22.00% and a net margin of 6.12%. The business earned $2.43 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the business posted $1.65 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Air Products and Chemicals will post $7.51 EPS for the current fiscal year.
The firm 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 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, October 6th. Air Products and Chemicals’s payout ratio is 128.84%.
In other news, SVP John D. Stanley sold 17,247 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $155.39, for a total value of $2,680,011.33. Following the transaction, the senior vice president now directly owns 36,129 shares in the company, valued at approximately $5,614,085.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Russell A. Flugel sold 2,050 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $151.54, for a total value of $310,657.00. Following the completion of the transaction, the insider now owns 3,131 shares in the company, valued at $474,471.74. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in Air Products and Chemicals by 66.0% in the first quarter. IFP Advisors Inc now owns 1,552 shares of the company’s stock worth $224,000 after buying an additional 617 shares during the period. TIAA CREF Investment Management LLC increased its position in Air Products and Chemicals by 7.7% in the first quarter. TIAA CREF Investment Management LLC now owns 696,350 shares of the company’s stock worth $100,309,000 after buying an additional 49,530 shares during the period. Teachers Advisors Inc. increased its position in Air Products and Chemicals by 55.7% in the first quarter. Teachers Advisors Inc. now owns 491,726 shares of the company’s stock worth $70,833,000 after buying an additional 176,003 shares during the period. Prudential Financial Inc. increased its position in Air Products and Chemicals by 10.2% in the first quarter. Prudential Financial Inc. now owns 385,696 shares of the company’s stock worth $55,559,000 after buying an additional 35,690 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new position in Air Products and Chemicals during the first quarter worth about $396,000. Hedge funds and other institutional investors own 88.50% of the company’s stock.
About Air Products and Chemicals
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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