Susquehanna Bancshares Inc upgraded shares of Air Products and Chemicals, Inc. (NYSE:APD) from a neutral rating to a positive rating in a research note released on Thursday, September 14th, Marketbeat.com reports. The brokerage currently has $175.00 target price on the basic materials company’s stock, up from their previous target price of $165.00.
Other equities analysts also recently issued reports about the stock. Barclays PLC reaffirmed a buy rating and set a $170.00 price objective on shares of Air Products and Chemicals in a report on Friday, August 4th. UBS AG raised shares of Air Products and Chemicals from a neutral rating to a positive rating in a report on Wednesday, September 13th. Argus increased their price objective on shares of Air Products and Chemicals from $159.00 to $165.00 and gave the company a buy rating in a report on Monday, August 28th. Vertical Research upgraded shares of Air Products and Chemicals from a sell rating to a hold rating and set a $146.00 target price for the company in a research report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $155.33.
Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.06. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 earnings per share.
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The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, October 6th. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 28.51%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Patten Group Inc. boosted its stake in shares of Air Products and Chemicals by 3.7% in the first quarter. Patten Group Inc. now owns 778 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 28 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Air Products and Chemicals in the first quarter valued at approximately $109,000. Guardian Life Insurance Co. of America boosted its stake in shares of Air Products and Chemicals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 838 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 6 shares during the period. IMS Capital Management purchased a new position in Air Products and Chemicals in the second quarter worth approximately $129,000. Finally, Armbruster Capital Management Inc. lifted its stake in Air Products and Chemicals by 13.5% in the second quarter. Armbruster Capital Management Inc. now owns 908 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 108 shares during the last quarter. 87.86% of the stock is owned by institutional investors and hedge funds.
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 is also a supplier of liquefied natural gas process technology and equipment.
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