Air Products and Chemicals (NYSE:APD) Upgraded to “Buy” at Vertical Research

Vertical Research upgraded shares of Air Products and Chemicals (NYSE:APD) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $336.00 price target on the basic materials company’s stock.

APD has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Barclays raised their price objective on Air Products and Chemicals from $290.00 to $295.00 and gave the stock an equal weight rating in a research note on Monday, August 5th. Citigroup boosted their target price on shares of Air Products and Chemicals from $280.00 to $305.00 and gave the company a buy rating in a research note on Friday, July 12th. BMO Capital Markets raised their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Finally, UBS Group boosted their price objective on shares of Air Products and Chemicals from $276.00 to $281.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $313.53.

Air Products and Chemicals Stock Up 0.2 %

Shares of NYSE:APD opened at $314.67 on Monday. The firm has a market cap of $69.95 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.89 and a beta of 0.82. The company has a fifty day simple moving average of $283.53 and a 200 day simple moving average of $264.65. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $323.86.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.16. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. On average, equities research analysts anticipate that Air Products and Chemicals will post 12.33 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is currently 63.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new position in Air Products and Chemicals in the 4th quarter valued at about $449,000. Personal CFO Solutions LLC lifted its stake in shares of Air Products and Chemicals by 4.3% in the 4th quarter. Personal CFO Solutions LLC now owns 2,454 shares of the basic materials company’s stock worth $672,000 after acquiring an additional 102 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in shares of Air Products and Chemicals by 4.3% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,395 shares of the basic materials company’s stock valued at $5,310,000 after acquiring an additional 804 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Air Products and Chemicals by 1.3% during the fourth quarter. Cresset Asset Management LLC now owns 43,144 shares of the basic materials company’s stock valued at $11,885,000 after acquiring an additional 538 shares during the period. Finally, Keyes Stange & Wooten Wealth Management LLC bought a new stake in Air Products and Chemicals during the fourth quarter worth approximately $641,000. 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.