Air Products and Chemicals (NYSE:APD) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Air Products and Chemicals (NYSE:APD) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on APD. Citigroup increased their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective on the stock in a research note on Friday, January 31st. Bank of America downgraded shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a research report on Monday, January 27th. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.94.

Air Products and Chemicals Trading Down 5.3 %

Shares of Air Products and Chemicals stock opened at $310.66 on Friday. Air Products and Chemicals has a 12-month low of $213.80 and a 12-month high of $341.14. The firm’s 50 day simple moving average is $309.83 and its two-hundred day simple moving average is $301.60. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $69.09 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.47 and a beta of 0.85.

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 analysts’ consensus estimates 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 predict that Air Products and Chemicals will post 12.77 EPS for the current year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is currently 41.11%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of hedge funds have recently modified their holdings of the company. Wedmont Private Capital boosted its holdings in Air Products and Chemicals by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 1,503 shares of the basic materials company’s stock valued at $470,000 after purchasing an additional 126 shares during the last quarter. Tobam lifted its holdings in Air Products and Chemicals by 50.7% in the third quarter. Tobam now owns 410 shares of the basic materials company’s stock valued at $122,000 after acquiring an additional 138 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in Air Products and Chemicals by 12.9% in the third quarter. Pinnacle Bancorp Inc. now owns 456 shares of the basic materials company’s stock worth $136,000 after acquiring an additional 52 shares during the period. Agate Pass Investment Management LLC increased its stake in Air Products and Chemicals by 2.4% during the third quarter. Agate Pass Investment Management LLC now owns 6,902 shares of the basic materials company’s stock worth $2,055,000 after acquiring an additional 165 shares during the last quarter. Finally, Independence Bank of Kentucky raised its position in Air Products and Chemicals by 11.0% in the third quarter. Independence Bank of Kentucky now owns 9,277 shares of the basic materials company’s stock valued at $2,762,000 after purchasing an additional 919 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

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.