UBS Group cut shares of Air Products & Chemicals (NYSE:APD) from a buy rating to a neutral rating in a research note published on Thursday, 24/7 WallStreet reports. UBS Group currently has $240.00 target price on the basic materials company’s stock, up from their previous target price of $224.00.
A number of other brokerages have also issued reports on APD. Barclays set a $46.00 target price on D. R. Horton and gave the company a buy rating in a research report on Friday, April 26th. Vertical Research downgraded Air Products & Chemicals from a buy rating to a hold rating in a report on Thursday, April 25th. KeyCorp downgraded Steris from an overweight rating to a sector weight rating in a research note on Tuesday, July 9th. They noted that the move was a valuation call. Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets increased their price objective on Air Products & Chemicals to $235.00 and gave the stock an outperform rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $216.42.
APD opened at $227.16 on Thursday. 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 has a market cap of $50.14 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.26 and a beta of 0.83. The company has a 50-day simple moving average of $219.21. Air Products & Chemicals has a 12 month low of $148.44 and a 12 month high of $231.45.
Air Products & Chemicals (NYSE:APD) last posted its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $1.92 EPS for the quarter, beating 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the business earned $1.71 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Air Products & Chemicals will post 8.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a $1.16 dividend. The ex-dividend date is Friday, June 28th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. Air Products & Chemicals’s dividend payout ratio (DPR) is 62.28%.
In other news, VP Russell A. Flugel sold 2,970 shares of the business’s stock in a transaction dated 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 directly owns 6,387 shares in the company, valued at $1,322,172.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.
Several institutional investors have recently modified their holdings of APD. IMA Wealth Inc. grew its position in Air Products & Chemicals by 285.7% during the 1st quarter. IMA Wealth Inc. now owns 135 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Field & Main Bank acquired a new position in shares of Air Products & Chemicals in the 1st quarter valued at $27,000. Advisory Alpha LLC acquired a new position in Air Products & Chemicals during the first quarter worth $29,000. Pinnacle Bank purchased a new stake in shares of Air Products & Chemicals during the fourth quarter worth $38,000. Finally, Destination Wealth Management purchased a new stake in shares of Air Products & Chemicals in the first quarter valued at about $40,000. Institutional investors own 87.05% 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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