Air Products and Chemicals (NYSE:APD) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Air Products and Chemicals (NYSE:APD) from a hold rating to a sell rating in a research note published on Sunday.

A number of other equities research analysts also recently issued reports on APD. Bank of America upgraded Air Products and Chemicals from a neutral rating to a buy rating and set a $264.00 price objective on the stock in a research report on Thursday, February 15th. Seaport Res Ptn downgraded Air Products and Chemicals from a buy rating to a neutral rating in a research report on Tuesday, February 6th. Barclays lowered their price objective on Air Products and Chemicals from $260.00 to $245.00 and set an equal weight rating on the stock in a research report on Tuesday, February 6th. Mizuho lowered their price target on Air Products and Chemicals from $304.00 to $295.00 and set a buy rating on the stock in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company downgraded Air Products and Chemicals from an overweight rating to an equal weight rating in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $276.36.

Air Products and Chemicals Price Performance

Shares of NYSE APD opened at $227.76 on Friday. The stock has a fifty day simple moving average of $235.11 and a two-hundred day simple moving average of $258.18. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $307.71. The firm has a market cap of $50.63 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Monday, February 5th. The basic materials company reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18). Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the business earned $2.64 earnings per share. Air Products and Chemicals’s revenue was down 5.6% on a year-over-year basis. Analysts anticipate that Air Products and Chemicals will post 12.38 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be paid a $1.77 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 annualized dividend and a dividend yield of 3.11%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 67.56%.

Institutional Trading of Air Products and Chemicals

Large investors have recently modified their holdings of the business. Garner Asset Management Corp bought a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Air Products and Chemicals during the 4th quarter valued at approximately $27,000. Roble Belko & Company Inc purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Finally, Security National Bank purchased a new position in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. 81.66% of the stock is owned by institutional investors.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.