Sanford C. Bernstein downgraded shares of Air Products & Chemicals (NYSE:APD) from an outperform rating to a market perform rating in a research report sent to investors on Thursday, 24/7 WallStreet reports. The firm currently has $225.00 price objective on the basic materials company’s stock.
Several other research firms have also issued reports on APD. Deutsche Bank dropped their target price on Xilinx from $125.00 to $120.00 and set a hold rating on the stock in a report on Thursday, April 25th. Bank of America upgraded Air Products & Chemicals from an underperform rating to a neutral rating and upped their target price for the stock from $170.00 to $215.00 in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their target price on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a neutral rating in a report on Friday, June 7th. UBS Group upped their target price on LyondellBasell Industries from $86.00 to $89.00 and gave the stock a neutral rating in a report on Thursday, July 11th. Finally, Citigroup set a $12.00 price objective on Controladora Vuela Co Avcn SA CV and gave the company a buy rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $224.92.
APD opened at $224.53 on Thursday. Air Products & Chemicals has a 52-week low of $148.44 and a 52-week high of $231.45. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 2.23 and a beta of 0.83. The company has a quick ratio of 2.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $222.42.
Air Products & Chemicals (NYSE:APD) last released its earnings results on Wednesday, April 24th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. Air Products & Chemicals had a return on equity of 15.28% and a net margin of 18.90%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. Air Products & Chemicals’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Air Products & Chemicals will post 8.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 11th. Shareholders of record on Tuesday, October 1st will be paid a $1.16 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.64 annualized dividend and a yield of 2.07%. Air Products & Chemicals’s dividend payout ratio is 62.28%.
In other Air Products & Chemicals news, VP Russell A. Flugel sold 2,970 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $207.01, for a total value of $614,819.70. Following the sale, the vice president now owns 6,387 shares in the company, valued at $1,322,172.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Evermay Wealth Management LLC increased its stake in shares of Air Products & Chemicals by 3.5% during the first quarter. Evermay Wealth Management LLC now owns 1,472 shares of the basic materials company’s stock worth $281,000 after purchasing an additional 50 shares during the period. Trustcore Financial Services LLC grew its position in Air Products & Chemicals by 3.2% during the first quarter. Trustcore Financial Services LLC now owns 1,610 shares of the basic materials company’s stock worth $307,000 after buying an additional 50 shares in the last quarter. Smith Shellnut Wilson LLC ADV grew its position in Air Products & Chemicals by 3.3% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 1,572 shares of the basic materials company’s stock worth $300,000 after buying an additional 50 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its position in Air Products & Chemicals by 2.3% during the first quarter. Canandaigua National Bank & Trust Co. now owns 2,394 shares of the basic materials company’s stock worth $457,000 after buying an additional 53 shares in the last quarter. Finally, Bank OZK grew its position in Air Products & Chemicals by 3.5% during the first quarter. Bank OZK now owns 1,561 shares of the basic materials company’s stock worth $298,000 after buying an additional 53 shares in the last quarter. Institutional investors own 87.10% of the company’s stock.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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