Wells Fargo & Company Issues Pessimistic Forecast for Air Products and Chemicals (NYSE:APD) Stock Price

Air Products and Chemicals (NYSE:APD) had its target price reduced by Wells Fargo & Company from $365.00 to $320.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

APD has been the subject of several other research reports. Citigroup lowered their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. BNP Paribas upgraded shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. StockNews.com lowered Air Products and Chemicals from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Sanford C. Bernstein raised Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price for the company in a research note on Friday, January 31st. Finally, UBS Group dropped their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $338.24.

Air Products and Chemicals Stock Up 2.6 %

NYSE:APD opened at $268.88 on Wednesday. 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 has a 12-month low of $227.53 and a 12-month high of $341.14. The stock’s fifty day simple moving average is $298.09 and its 200-day simple moving average is $307.63. The firm has a market capitalization of $59.82 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.07 and a beta of 0.89.

Air Products and Chemicals (NYSE:APD) last issued its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts expect that Air Products and Chemicals will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is currently 41.58%.

Insider Buying and Selling

In other news, CFO Melissa N. Schaeffer sold 3,233 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $307.32, for a total transaction of $993,565.56. Following the sale, the chief financial officer now owns 10,680 shares in the company, valued at $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 is available at this link. Also, insider Francesco Maione sold 2,016 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the completion of the sale, the insider now directly owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. The trade was a 34.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is owned by insiders.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Generali Investments Management Co LLC acquired a new position in shares of Air Products and Chemicals during the 4th quarter worth about $26,000. Sierra Ocean LLC acquired a new position in Air Products and Chemicals during the fourth quarter worth approximately $30,000. Raleigh Capital Management Inc. raised 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 valued at $30,000 after buying an additional 43 shares during the period. Financial Life Planners acquired a new stake in shares of Air Products and Chemicals in the fourth quarter valued at approximately $31,000. Finally, WR Wealth Planners LLC boosted its stake in shares of Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 31 shares during the period. 81.66% of the stock is owned by 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.