Air Products and Chemicals (NYSE:APD) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Air Products and Chemicals (NYSE:APD) from a hold rating to a sell rating in a research note issued to investors on Friday.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $320.00 price objective (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research report on Monday, January 27th. Wells Fargo & Company raised their price target on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday. UBS Group boosted their target price on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Price Performance

NYSE APD opened at $310.66 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $69.09 billion, a P/E ratio of 18.08, a PEG ratio of 3.55 and a beta of 0.85. The company has a 50-day moving average price of $310.30 and a 200-day moving average price of $300.85. Air Products and Chemicals has a 52 week low of $213.80 and a 52 week high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 16.34% and a net margin of 31.64%. Equities research analysts anticipate that Air Products and Chemicals will post 12.76 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. Air Products and Chemicals’s dividend payout ratio is 41.21%.

Hedge Funds Weigh In On Air Products and Chemicals

A number of hedge funds and other institutional investors have recently modified their holdings of APD. Geode Capital Management LLC boosted its position in Air Products and Chemicals by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock valued at $1,448,570,000 after purchasing an additional 88,806 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Air Products and Chemicals during the fourth quarter valued at $885,371,000. Pathway Financial Advisers LLC grew its stake in Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Air Products and Chemicals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock worth $605,734,000 after buying an additional 30,888 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Air Products and Chemicals by 1.7% in the third quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock worth $608,312,000 after acquiring an additional 33,313 shares during the period. 81.66% of the stock is currently owned by 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.