Air Products and Chemicals (NYSE:APD) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Air Products and Chemicals (NYSE:APD) from a sell rating to a hold rating in a report released on Saturday morning.

Several other equities analysts have also commented on APD. BMO Capital Markets increased their target price on shares of Air Products and Chemicals from $276.00 to $294.00 and gave the company an outperform rating in a report on Monday, June 10th. TD Cowen increased their target price on shares of Air Products and Chemicals from $305.00 to $320.00 and gave the company a buy rating in a report on Wednesday, May 1st. Bank of America increased their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a buy rating in a report on Monday, June 10th. Morgan Stanley increased their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an equal weight rating in a report on Wednesday, June 5th. Finally, Wolfe Research started coverage on shares of Air Products and Chemicals in a report on Friday, March 1st. They issued an outperform rating and a $279.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $287.29.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock opened at $258.05 on Friday. The firm’s fifty day moving average price is $259.73 and its 200-day moving average price is $251.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The stock has a market cap of $57.37 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.74 EPS. On average, equities research analysts expect that Air Products and Chemicals will post 12.3 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be given a $1.77 dividend. The ex-dividend date is Monday, July 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.74%. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

Institutional investors and hedge funds have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $27,000. Roble Belko & Company Inc purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $27,000. Sachetta LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $27,000. Security National Bank purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $27,000. Finally, Transcendent Capital Group LLC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $28,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Company Profile

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.