UBS Group Cuts Air Products and Chemicals (NYSE:APD) Price Target to $370.00

Air Products and Chemicals (NYSE:APD) had its price objective reduced by UBS Group from $395.00 to $370.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

APD has been the topic of several other research reports. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a report on Friday, January 31st. BMO Capital Markets downgraded shares of Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. 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 on the stock. in a report on Monday, January 27th. StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $291.82 on Friday. Air Products and Chemicals has a 1-year low of $227.53 and a 1-year high of $341.14. The firm’s 50 day simple moving average is $312.54 and its two-hundred day simple moving average is $307.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The company has a market capitalization of $64.92 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS 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%. Research analysts expect that Air Products and Chemicals will post 12.69 EPS for the current fiscal 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 $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.45%. Air Products and Chemicals’s dividend payout ratio is presently 41.58%.

Insider Transactions at Air Products and Chemicals

In related news, insider Kurt Lefevere sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $316.17, for a total value of $474,255.00. Following the completion of the sale, the insider now directly owns 1,462 shares of the company’s stock, valued at $462,240.54. This represents a 50.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Walter L. Nelson sold 589 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total transaction of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares of the company’s stock, valued at approximately $221,811.50. This trade represents a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,500 shares of company stock worth $4,842,604. Insiders own 0.41% of the company’s stock.

Institutional Trading of Air Products and Chemicals

A number of hedge funds have recently added to or reduced their stakes in APD. Truvestments Capital LLC purchased a new stake in Air Products and Chemicals in the third quarter worth about $25,000. Generali Investments Management Co LLC purchased a new stake in Air Products and Chemicals in the fourth quarter worth about $26,000. Raleigh Capital Management Inc. lifted its stake in Air Products and Chemicals by 69.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 43 shares during the period. Sierra Ocean LLC purchased a new stake in Air Products and Chemicals in the fourth quarter worth about $30,000. Finally, Financial Life Planners purchased a new stake in Air Products and Chemicals in the fourth quarter worth about $31,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

About Air Products and Chemicals

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.