Air Products and Chemicals Inc. (NYSE:APD) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Air Products and Chemicals Inc. (NYSE:APD) have been given an average rating of “Hold” by the sixteen research firms that are presently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $149.17.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Citigroup Inc. reiterated a “hold” rating on shares of Air Products and Chemicals in a research note on Sunday, July 17th. Jefferies Group reiterated a “hold” rating and issued a $155.00 target price on shares of Air Products and Chemicals in a research note on Friday, July 29th. Atlantic Securities upgraded shares of Air Products and Chemicals from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $125.00 to $135.00 in a research report on Friday, September 30th. Finally, Seaport Global Securities upgraded shares of Air Products and Chemicals from an “accumulate” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Monday, July 11th.
In related news, insider Russell A. Flugel sold 2,050 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $151.54, for a total value of $310,657.00. Following the completion of the sale, the insider now owns 3,131 shares of the company’s stock, valued at $474,471.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John D. Stanley sold 8,720 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $150.00, for a total transaction of $1,308,000.00. Following the completion of the sale, the senior vice president now directly owns 25,152 shares of the company’s stock, valued at approximately $3,772,800. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.
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Several large investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in Air Products and Chemicals during the second quarter worth approximately $37,233,000. Dearborn Partners LLC boosted its position in Air Products and Chemicals by 3.8% in the second quarter. Dearborn Partners LLC now owns 106,743 shares of the company’s stock worth $15,162,000 after buying an additional 3,873 shares during the last quarter. Natixis boosted its position in Air Products and Chemicals by 2,829.0% in the first quarter. Natixis now owns 960,396 shares of the company’s stock worth $138,345,000 after buying an additional 927,607 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in Air Products and Chemicals during the first quarter worth approximately $198,943,000. Finally, Capital Fund Management S.A. boosted its position in Air Products and Chemicals by 56.0% in the second quarter. Capital Fund Management S.A. now owns 117,908 shares of the company’s stock worth $16,748,000 after buying an additional 42,347 shares during the last quarter. 88.50% of the stock is owned by hedge funds and other institutional investors.
Shares of Air Products and Chemicals (NYSE:APD) traded up 0.23% during trading on Monday, hitting $135.39. 657,706 shares of the company’s stock were exchanged. The company has a 50-day moving average of $149.89 and a 200-day moving average of $146.43. The company has a market cap of $29.32 billion, a P/E ratio of 50.65 and a beta of 1.23. Air Products and Chemicals has a 12-month low of $114.64 and a 12-month high of $157.84.
Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 28th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.02. Air Products and Chemicals had a net margin of 6.12% and a return on equity of 22.00%. The firm earned $2.43 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business posted $1.65 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Air Products and Chemicals will post $7.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 3rd will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, October 6th. Air Products and Chemicals’s dividend payout ratio is currently 128.84%.
About Air Products and Chemicals
Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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