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 report released on Friday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $315.00 to $365.00 in a report on Friday, January 24th. StockNews.com downgraded shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, February 7th. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals currently has an average rating of “Moderate Buy” and an average price target of $342.65.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $291.82 on Friday. The firm has a market cap of $64.92 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.85. The company’s 50 day moving average is $312.54 and its two-hundred day moving average is $308.12. Air Products and Chemicals has a 52-week low of $227.53 and a 52-week high of $341.14. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD) last posted its quarterly 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%. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insiders Place Their Bets

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the sale, the chief financial officer now owns 10,680 shares in the company, valued at approximately $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sean D. Major sold 4,500 shares of Air Products and Chemicals stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the transaction, the vice president now directly owns 14,273 shares of the company’s stock, valued at approximately $4,502,560.58. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $4,842,604 over the last ninety days. 0.41% of the stock is owned by company insiders.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its stake in shares of Air Products and Chemicals by 106.3% in the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after purchasing an additional 6,952 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after acquiring an additional 139,223 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Air Products and Chemicals in the 4th quarter worth approximately $7,269,000. Diversify Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 88.2% during the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock valued at $3,074,000 after acquiring an additional 4,916 shares during the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Air Products and Chemicals by 1,205.1% in the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after purchasing an additional 35,479 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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.