Air Products and Chemicals Inc. (APD) Now Covered by Analysts at Credit Suisse Group AG
Several other equities analysts have also weighed in on the company. Atlantic Securities upgraded Air Products and Chemicals from an underweight rating to a neutral rating and lifted their price target for the company from $125.00 to $135.00 in a research note on Friday. JPMorgan Chase & Co. upgraded Air Products and Chemicals from a neutral rating to an overweight rating and lifted their price objective for the stock from $140.00 to $160.00 in a report on Friday, August 12th. Zacks Investment Research cut Air Products and Chemicals from a buy rating to a hold rating in a report on Wednesday, August 3rd. Jefferies Group reiterated a hold rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 29th. Finally, Citigroup Inc. lowered their price objective on Air Products and Chemicals from $157.00 to $156.00 and set a neutral rating on the stock in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $151.60.
Shares of Air Products and Chemicals (NYSE:APD) opened at 140.57 on Monday. The stock has a market capitalization of $30.44 billion, a P/E ratio of 52.59 and a beta of 1.23. The firm’s 50-day moving average price is $151.79 and its 200-day moving average price is $146.64. Air Products and Chemicals has a 12 month low of $114.64 and a 12 month high of $157.84.
Air Products and Chemicals (NYSE:APD) last announced its quarterly 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. Air Products and Chemicals had a return on equity of 22.00% and a net margin of 6.12%. The firm earned $2.43 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Air Products and Chemicals’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Air Products and Chemicals will post $7.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 128.84%.
In related news, SVP John D. Stanley sold 17,247 shares of the 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 owns 36,129 shares of the company’s stock, valued at $5,614,085.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Guillermo Novo sold 2,447 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $148.94, for a total value of $364,456.18. Following the completion of the transaction, the vice president now directly owns 12,805 shares in the company, valued at approximately $1,907,176.70. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of APD. IFP Advisors Inc raised 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 valued at $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 valued at $100,309,000 after buying an additional 49,530 shares in the last quarter. 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 valued at $70,833,000 after buying an additional 176,003 shares in the last quarter. 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 valued at $55,559,000 after buying an additional 35,690 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in Air Products and Chemicals during the first quarter valued at about $396,000. 88.50% of the stock is currently owned by hedge funds and other institutional investors.
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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