Air Products and Chemicals (NYSE:APD) Posts Earnings Results, Beats Expectations By $0.01 EPS

Air Products and Chemicals (NYSE:APDGet Rating) released its quarterly earnings data on Thursday. The basic materials company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.01, Briefing.com reports. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.02 billion. Air Products and Chemicals had a net margin of 19.08% and a return on equity of 15.61%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share.

Air Products and Chemicals Price Performance

Shares of APD stock opened at $262.64 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 1.79. The firm’s 50-day moving average is $241.57 and its two-hundred day moving average is $244.03. Air Products and Chemicals has a 12 month low of $216.24 and a 12 month high of $316.39. The company has a market capitalization of $58.25 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.81.

Air Products and Chemicals Announces Dividend

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 paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, September 30th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.16%.

Hedge Funds Weigh In On Air Products and Chemicals

A number of institutional investors have recently bought and sold shares of APD. Lazard Asset Management LLC increased its position in shares of Air Products and Chemicals by 47.8% during the first quarter. Lazard Asset Management LLC now owns 445 shares of the basic materials company’s stock valued at $110,000 after acquiring an additional 144 shares during the last quarter. Covestor Ltd increased its position in shares of Air Products and Chemicals by 85.6% during the first quarter. Covestor Ltd now owns 579 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 267 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Air Products and Chemicals by 17.1% during the first quarter. Parkside Financial Bank & Trust now owns 755 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 110 shares during the last quarter. qPULA Trading Management LP acquired a new stake in shares of Air Products and Chemicals during the first quarter valued at about $208,000. Finally, Frontier Wealth Management LLC grew its holdings in shares of Air Products and Chemicals by 13.2% in the first quarter. Frontier Wealth Management LLC now owns 858 shares of the basic materials company’s stock valued at $213,000 after purchasing an additional 100 shares in the last quarter. 80.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APD has been the topic of a number of research reports. Credit Suisse Group cut their price objective on shares of Air Products and Chemicals from $302.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Bank of America dropped their price target on shares of Air Products and Chemicals from $272.00 to $271.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. Atlantic Securities upgraded shares of Air Products and Chemicals from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $280.00 to $290.00 in a research report on Wednesday, May 25th. JPMorgan Chase & Co. lifted their target price on shares of Air Products and Chemicals from $275.00 to $295.00 in a research report on Friday. Finally, Cowen dropped their target price on shares of Air Products and Chemicals from $345.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.87.

About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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Earnings History for Air Products and Chemicals (NYSE:APD)

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