Air Products and Chemicals (NYSE:APD) Upgraded at StockNews.com

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

APD has been the topic of several other reports. Morgan Stanley increased their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an equal weight rating in a research report on Wednesday, June 5th. Wolfe Research initiated coverage on Air Products and Chemicals in a research report on Friday, March 1st. They issued an outperform rating and a $279.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Air Products and Chemicals from $270.00 to $260.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Citigroup lowered their price target on Air Products and Chemicals from $285.00 to $280.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. Finally, BMO Capital Markets raised their price target on Air Products and Chemicals from $276.00 to $294.00 and gave the company an outperform rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $287.29.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $250.92 on Friday. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The stock has a fifty day moving average of $259.98 and a 200-day moving average of $251.54. The company has a market capitalization of $55.78 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.80 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the business posted $2.74 earnings per share. Air Products and Chemicals’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Air Products and Chemicals will post 12.3 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, July 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Institutional Trading of Air Products and Chemicals

A number of hedge funds and other institutional investors have recently modified their holdings of APD. Trexquant Investment LP bought a new position in shares of Air Products and Chemicals during the third quarter worth $1,113,000. Schonfeld Strategic Advisors LLC lifted its position in Air Products and Chemicals by 97.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 18,593 shares of the basic materials company’s stock valued at $5,269,000 after acquiring an additional 9,183 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in Air Products and Chemicals by 11.7% in the 3rd quarter. Insigneo Advisory Services LLC now owns 1,935 shares of the basic materials company’s stock valued at $552,000 after acquiring an additional 203 shares in the last quarter. Truist Financial Corp lifted its position in Air Products and Chemicals by 1.1% in the 3rd quarter. Truist Financial Corp now owns 513,205 shares of the basic materials company’s stock valued at $145,442,000 after acquiring an additional 5,390 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Air Products and Chemicals by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 92,572 shares of the basic materials company’s stock valued at $26,235,000 after acquiring an additional 4,609 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.