Air Products and Chemicals, Inc. (APD) Lifted to Hold at Vertical Research

Vertical Research upgraded shares of Air Products and Chemicals, Inc. (NYSE:APD) from a sell rating to a hold rating in a research report released on Monday, August 7th. The brokerage currently has $146.00 price target on the basic materials company’s stock.

A number of other analysts have also recently weighed in on APD. Zacks Investment Research upgraded shares of Air Products and Chemicals from a hold rating to a buy rating and set a $152.00 price objective for the company in a research note on Tuesday, April 18th. Deutsche Bank AG upgraded shares of Air Products and Chemicals from a hold rating to a buy rating and boosted their price objective for the stock from $148.00 to $160.00 in a research note on Monday, May 1st. Jefferies Group LLC restated a hold rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a research note on Tuesday, May 2nd. BidaskClub cut shares of Air Products and Chemicals from a hold rating to a sell rating in a research note on Friday, June 23rd. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $158.00 target price (up previously from $153.00) on shares of Air Products and Chemicals in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $152.77.

Shares of Air Products and Chemicals (NYSE:APD) opened at 145.76 on Monday. The firm has a market cap of $31.77 billion, a price-to-earnings ratio of 10.95 and a beta of 1.25. The stock has a 50 day moving average of $145.17 and a 200 day moving average of $141.94. Air Products and Chemicals has a 52-week low of $129.00 and a 52-week high of $150.45.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.06. Air Products and Chemicals had a net margin of 34.63% and a return on equity of 17.23%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company earned $1.92 earnings per share. Air Products and Chemicals’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts predict that Air Products and Chemicals will post $6.23 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 10th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, October 6th. Air Products and Chemicals’s payout ratio is 28.51%.

Several large investors have recently bought and sold shares of APD. BlackRock Inc. raised its stake in Air Products and Chemicals by 1,973.1% in the first quarter. BlackRock Inc. now owns 14,149,340 shares of the basic materials company’s stock valued at $1,914,263,000 after buying an additional 13,466,808 shares during the last quarter. Janus Henderson Group PLC raised its stake in Air Products and Chemicals by 8,260.1% in the second quarter. Janus Henderson Group PLC now owns 2,720,195 shares of the basic materials company’s stock valued at $389,152,000 after buying an additional 2,687,657 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Air Products and Chemicals by 243.2% in the first quarter. First Eagle Investment Management LLC now owns 1,789,910 shares of the basic materials company’s stock valued at $242,157,000 after buying an additional 1,268,305 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Air Products and Chemicals by 5.5% in the first quarter. Vanguard Group Inc. now owns 16,888,770 shares of the basic materials company’s stock valued at $2,284,882,000 after buying an additional 887,369 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Air Products and Chemicals by 57.2% in the second quarter. American Century Companies Inc. now owns 2,125,659 shares of the basic materials company’s stock valued at $304,097,000 after buying an additional 773,446 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.

About Air Products and Chemicals

Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.

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