Air Products and Chemicals (NYSE:APD) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets cut shares of Air Products and Chemicals (NYSE:APD) from an outperform rating to a market perform rating in a research report report published on Friday morning, Marketbeat Ratings reports.

Several other research firms have also commented on APD. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday. Sanford C. Bernstein raised 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 report on Friday, January 31st. Citigroup raised their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, UBS Group boosted their price target on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $339.94.

Air Products and Chemicals Trading Down 5.3 %

Shares of APD opened at $310.66 on Friday. 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 P/E ratio of 18.04, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The stock’s fifty day simple moving average is $309.83 and its 200 day simple moving average is $301.60. Air Products and Chemicals has a twelve month low of $213.80 and a twelve month high of $341.14.

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 for the quarter, missing the consensus estimate 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%. On average, equities research analysts forecast that Air Products and Chemicals will post 12.77 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.11%.

Hedge Funds Weigh In On Air Products and Chemicals

Several hedge funds and other institutional investors have recently made changes to their positions in APD. Truvestments Capital LLC bought a new stake in Air Products and Chemicals during the third quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its holdings in Air Products and Chemicals by 69.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Financial Life Planners bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $31,000. Finally, WR Wealth Planners LLC increased its holdings in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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.