Air Products and Chemicals Inc. (APD) Stock Rating Lowered by Zacks Investment Research
Air Products and Chemicals Inc. (NYSE:APD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Air Products' industrial gases business in the EMEA region is seeing pressure from a weak operating environment. The company is also seeing lower volumes in Latin America due to weak demand. Moreover, volumes in packaged gases continue to be weak. The company is also exposed to currency headwinds. Moreover, it still has a debt-laden balance sheet.”
APD has been the subject of a number of other reports. Jefferies Group reissued a “hold” rating and set a $155.00 price objective on shares of Air Products and Chemicals in a report on Friday, July 29th. Citigroup Inc. decreased their price objective on Air Products and Chemicals from $157.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Atlantic Securities raised Air Products and Chemicals from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $125.00 to $135.00 in a report on Friday. Seaport Global Securities raised Air Products and Chemicals from an “accumulate” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Monday, July 11th. Finally, JPMorgan Chase & Co. raised Air Products and Chemicals from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $160.00 in a report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $151.60.
Air Products and Chemicals (NYSE:APD) traded down 2.25% during mid-day trading on Tuesday, hitting $137.41. The stock had a trading volume of 717,850 shares. 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 1-year low of $114.64 and a 1-year high of $157.84. The stock has a market cap of $29.76 billion, a PE ratio of 51.41 and a beta of 1.23.
Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, July 28th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Air Products and Chemicals will post $7.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be given a $0.86 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 128.84%.
In related news, SVP John D. Stanley sold 8,720 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $150.00, for a total value of $1,308,000.00. Following the transaction, the senior vice president now owns 25,152 shares of the company’s stock, valued at $3,772,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Russell A. Flugel sold 2,050 shares of the stock in a transaction on Monday, August 15th. The shares were 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 directly owns 3,131 shares in the company, valued at approximately $474,471.74. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LVM Capital Management Ltd. MI boosted its position in Air Products and Chemicals by 42.4% in the third quarter. LVM Capital Management Ltd. MI now owns 2,350 shares of the company’s stock worth $302,000 after buying an additional 700 shares in the last quarter. Park National Corp OH boosted its position in Air Products and Chemicals by 1.7% in the third quarter. Park National Corp OH now owns 88,807 shares of the company’s stock worth $13,351,000 after buying an additional 1,444 shares in the last quarter. Evercore Wealth Management LLC boosted its position in Air Products and Chemicals by 2.5% in the second quarter. Evercore Wealth Management LLC now owns 2,833 shares of the company’s stock worth $402,000 after buying an additional 69 shares in the last quarter. Macquarie Group Ltd. boosted its position in Air Products and Chemicals by 100.3% in the second quarter. Macquarie Group Ltd. now owns 30,450 shares of the company’s stock worth $4,326,000 after buying an additional 15,250 shares in the last quarter. Finally, Carnick & Kubik Group LLC purchased a new position in Air Products and Chemicals during the second quarter worth approximately $686,000. 88.50% of the stock is currently owned by institutional investors and hedge funds.
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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