UBS Group Cuts Air Products and Chemicals (NYSE:APD) Price Target to $370.00

Air Products and Chemicals (NYSE:APD) had its target price lowered by UBS Group from $395.00 to $370.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

A number of other equities research analysts have also weighed in on APD. BMO Capital Markets lowered shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Monday, January 27th. StockNews.com cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $315.00 to $365.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $342.65.

Air Products and Chemicals Price Performance

Shares of APD opened at $291.82 on Friday. Air Products and Chemicals has a fifty-two week low of $227.53 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The stock has a market cap of $64.92 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The firm’s 50-day simple moving average is $312.54 and its two-hundred day simple moving average is $308.12.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. Analysts anticipate that Air Products and Chemicals will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.58%.

Insider Buying and Selling

In other news, VP Sean D. Major sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total value of $1,419,570.00. Following the completion of the sale, the vice president now owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Victoria Brifo sold 2,362 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $315.82, for a total transaction of $745,966.84. Following the transaction, the vice president now owns 10,045 shares in the company, valued at approximately $3,172,411.90. This represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last three months. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Air Products and Chemicals

A number of large investors have recently modified their holdings of APD. Vanguard Group Inc. lifted its position in Air Products and Chemicals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,485,176 shares of the basic materials company’s stock valued at $6,231,560,000 after purchasing an additional 207,404 shares during the period. Dodge & Cox raised its position in shares of Air Products and Chemicals by 1.0% during the 4th quarter. Dodge & Cox now owns 6,663,154 shares of the basic materials company’s stock worth $1,932,581,000 after purchasing an additional 64,960 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Air Products and Chemicals by 129.4% in the fourth quarter. Bank of America Corp DE now owns 5,429,147 shares of the basic materials company’s stock worth $1,574,670,000 after acquiring an additional 3,062,157 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Air Products and Chemicals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,931,661 shares of the basic materials company’s stock worth $1,430,354,000 after buying an additional 57,314 shares in the last quarter. Finally, Mantle Ridge LP acquired a new stake in Air Products and Chemicals in the 4th quarter valued at about $1,191,344,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

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.