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 research note issued to investors on Friday.

Several other analysts have also issued reports on APD. Mizuho reduced their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised their target price on Air Products and Chemicals from $260.00 to $310.00 and gave the company a buy rating in a report on Monday, June 10th. Bank of America boosted their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a buy rating in a report on Monday, June 10th. Citigroup reduced their price objective on Air Products and Chemicals from $285.00 to $280.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Finally, Wolfe Research started coverage on Air Products and Chemicals in a research note on Friday, March 1st. They set an outperform rating and a $279.00 target price for the company. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $287.29.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $270.90 on Friday. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71. The company’s 50 day moving average price is $257.13 and its two-hundred day moving average price is $251.80. The firm has a market cap of $60.22 billion, a PE ratio of 24.45, a PEG ratio of 2.95 and a beta of 0.84. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD) last announced 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. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm earned $2.74 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts predict that Air Products and Chemicals will post 12.3 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 1st will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cape Cod Five Cents Savings Bank bought a new stake in Air Products and Chemicals in the third quarter valued at approximately $376,000. Eos Management L.P. increased its position in shares of Air Products and Chemicals by 26.2% during the fourth quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after buying an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA raised its stake in Air Products and Chemicals by 3.6% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock worth $17,850,000 after buying an additional 2,285 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Air Products and Chemicals in the fourth quarter valued at $1,177,000. Finally, Zenyatta Capital Management LP boosted its position in Air Products and Chemicals by 46.7% during the fourth quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock valued at $6,024,000 after acquiring an additional 7,000 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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.