Several other research analysts have also issued reports on the stock. Citigroup increased their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the stock a buy rating in a research note on Friday, July 12th. Bank of America raised their target price on Air Products and Chemicals from $275.00 to $312.00 and gave the company a buy rating in a research note on Monday, June 10th. Mizuho dropped their price target on Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Barclays raised their price objective on Air Products and Chemicals from $245.00 to $290.00 and gave the company an equal weight rating in a research note on Monday, June 10th. Finally, TD Cowen upped their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $289.29.
Read Our Latest Analysis on Air Products and Chemicals
Air Products and Chemicals Stock Performance
Shares of APD opened at $255.87 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $264.83 and its two-hundred day simple moving average is $249.91. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The stock has a market capitalization of $56.88 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.90 and a beta of 0.81.
Air Products and Chemicals (NYSE:APD – Get Free Report) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company earned $2.74 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts predict that Air Products and Chemicals will post 12.26 EPS for the current year.
Air Products and Chemicals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.
Institutional Investors Weigh In On Air Products and Chemicals
A number of hedge funds have recently modified their holdings of the stock. Precedent Wealth Partners LLC raised its stake in shares of Air Products and Chemicals by 25.0% in the second quarter. Precedent Wealth Partners LLC now owns 2,351 shares of the basic materials company’s stock valued at $607,000 after buying an additional 470 shares during the period. LaFleur & Godfrey LLC boosted its position in Air Products and Chemicals by 4.3% during the second quarter. LaFleur & Godfrey LLC now owns 13,630 shares of the basic materials company’s stock worth $3,517,000 after purchasing an additional 556 shares during the period. Scharf Investments LLC increased its stake in shares of Air Products and Chemicals by 27.6% in the second quarter. Scharf Investments LLC now owns 459,228 shares of the basic materials company’s stock worth $118,504,000 after purchasing an additional 99,409 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of Air Products and Chemicals by 26.5% in the second quarter. Griffin Asset Management Inc. now owns 40,987 shares of the basic materials company’s stock valued at $10,577,000 after purchasing an additional 8,582 shares during the period. Finally, Inlet Private Wealth LLC lifted its stake in shares of Air Products and Chemicals by 12.7% during the 2nd quarter. Inlet Private Wealth LLC now owns 1,067 shares of the basic materials company’s stock valued at $275,000 after buying an additional 120 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.
About Air Products and Chemicals
(Get Free Report)
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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