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

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

Several other research firms have also weighed in on APD. Mizuho lowered their price objective on shares of Air Products and Chemicals from $304.00 to $295.00 and set a buy rating for the company in a research note on Tuesday, February 6th. Wolfe Research assumed coverage on shares of Air Products and Chemicals in a research note on Friday, March 1st. They set an outperform rating and a $279.00 price target for the company. Seaport Res Ptn lowered shares of Air Products and Chemicals from a buy rating to a neutral rating in a research note on Tuesday, February 6th. TD Cowen decreased their price target on shares of Air Products and Chemicals from $345.00 to $305.00 and set an outperform rating for the company in a research note on Friday, February 16th. Finally, BMO Capital Markets decreased their price target on shares of Air Products and Chemicals from $307.00 to $250.00 and set an outperform rating for the company in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $276.36.

Air Products and Chemicals Stock Up 1.2 %

Air Products and Chemicals stock opened at $234.37 on Monday. The firm has a 50 day moving average price of $236.12 and a two-hundred day moving average price of $256.79. The firm has a market cap of $52.10 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 2.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.81. Air Products and Chemicals has a 52-week low of $212.24 and a 52-week high of $307.71.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Monday, February 5th. The basic materials company reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($0.18). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.20 billion. Air Products and Chemicals had a net margin of 18.82% and a return on equity of 16.84%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.64 EPS. Equities analysts predict that Air Products and Chemicals will post 12.38 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be issued a $1.77 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. This represents a $7.08 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Thursday, March 28th. Air Products and Chemicals’s payout ratio is 67.56%.

Hedge Funds Weigh In On Air Products and Chemicals

A number of hedge funds and other institutional investors have recently made changes to their positions in APD. Arkadios Wealth Advisors boosted its holdings in shares of Air Products and Chemicals by 10.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 938 shares of the basic materials company’s stock worth $266,000 after buying an additional 88 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in Air Products and Chemicals during the third quarter valued at about $1,673,000. Avior Wealth Management LLC lifted its holdings in Air Products and Chemicals by 25.5% during the third quarter. Avior Wealth Management LLC now owns 207 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 42 shares during the last quarter. Cedar Brook Financial Partners LLC lifted its holdings in Air Products and Chemicals by 7.6% during the third quarter. Cedar Brook Financial Partners LLC now owns 1,020 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 72 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Air Products and Chemicals by 0.7% during the third quarter. GHP Investment Advisors Inc. now owns 20,808 shares of the basic materials company’s stock valued at $5,940,000 after purchasing an additional 141 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

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.