Air Products and Chemicals, Inc. (NYSE:APD) Declares $1.77 Quarterly Dividend

Air Products and Chemicals, Inc. (NYSE:APDGet Free Report) declared a quarterly dividend on Friday, May 17th, RTT News reports. Stockholders of record on Monday, July 1st will be given a dividend of 1.77 per share by the basic materials company on Monday, August 12th. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Monday, July 1st.

Air Products and Chemicals has increased its dividend by an average of 9.3% annually over the last three years and has increased its dividend annually for the last 49 consecutive years. Air Products and Chemicals has a dividend payout ratio of 52.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Air Products and Chemicals to earn $13.55 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 52.3%.

Air Products and Chemicals Stock Up 2.2 %

Air Products and Chemicals stock opened at $262.70 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 $241.07 and a 200 day moving average of $252.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The stock has a market cap of $58.40 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80.

Air Products and Chemicals (NYSE:APDGet Free Report) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Air Products and Chemicals had a net margin of 20.32% and a return on equity of 16.56%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.74 earnings per share. As a group, sell-side analysts predict that Air Products and Chemicals will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group downgraded Air Products and Chemicals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $328.00 to $241.00 in a research report on Thursday, February 8th. StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Seaport Res Ptn cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Bank of America lifted their price target on shares of Air Products and Chemicals from $272.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley reduced their price objective on shares of Air Products and Chemicals from $285.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $273.77.

Read Our Latest Stock Analysis on Air Products and Chemicals

Air Products and Chemicals Company Profile

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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.

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Dividend History for Air Products and Chemicals (NYSE:APD)

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