UBS Group Lowers Air Products & Chemicals (NYSE:APD) to Neutral

UBS Group cut shares of Air Products & Chemicals (NYSE:APD) from a buy rating to a neutral rating in a report released on Thursday morning, 24/7 WallStreet reports. They currently have $240.00 price objective on the basic materials company’s stock, up from their prior price objective of $224.00.

Several other equities analysts have also recently issued reports on the stock. Barclays set a $46.00 target price on shares of D. R. Horton and gave the company a buy rating in a research note on Friday, April 26th. BMO Capital Markets boosted their target price on shares of Air Products & Chemicals to $235.00 and gave the company an outperform rating in a research note on Monday, May 13th. Zacks Investment Research cut shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Credit Suisse Group reiterated an underperform rating on shares of MARKS & SPENCER/S in a research note on Wednesday, April 17th. Finally, Deutsche Bank decreased their target price on shares of Xilinx from $125.00 to $120.00 and set a hold rating for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $216.42.

Shares of NYSE APD opened at $227.16 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 2.36. Air Products & Chemicals has a 12 month low of $148.44 and a 12 month high of $231.45. The company’s 50 day simple moving average is $219.21. The firm 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.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data 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 net margin of 18.90% and a return on equity of 15.28%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the business posted $1.71 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that Air Products & Chemicals will post 8.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 1st will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, June 28th. Air Products & Chemicals’s payout ratio is 62.28%.

In other news, VP Russell A. Flugel sold 2,970 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $207.01, for a total transaction of $614,819.70. Following the completion of the sale, the vice president now owns 6,387 shares of the company’s stock, valued at $1,322,172.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in APD. OMERS ADMINISTRATION Corp purchased a new stake in shares of Air Products & Chemicals in the fourth quarter valued at about $164,779,000. Deutsche Bank AG lifted its position in Air Products & Chemicals by 96.6% in the fourth quarter. Deutsche Bank AG now owns 1,599,411 shares of the basic materials company’s stock valued at $255,979,000 after buying an additional 785,837 shares during the last quarter. Norges Bank acquired a new stake in shares of Air Products & Chemicals during the fourth quarter worth about $95,285,000. 1832 Asset Management L.P. lifted its position in shares of Air Products & Chemicals by 2,002.7% during the fourth quarter. 1832 Asset Management L.P. now owns 353,219 shares of the basic materials company’s stock worth $56,469,000 after purchasing an additional 336,421 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Air Products & Chemicals by 358.5% during the first quarter. Nordea Investment Management AB now owns 405,635 shares of the basic materials company’s stock worth $77,462,000 after purchasing an additional 317,174 shares in the last quarter. 87.05% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Air Products & Chemicals (NYSE:APD)

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