Sanford C. Bernstein initiated coverage on shares of Air Products & Chemicals (NYSE:APD) in a research report released on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $202.00 price objective on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on APD. Zacks Investment Research cut shares of Air Products & Chemicals from a buy rating to a hold rating in a research note on Tuesday, July 3rd. Susquehanna Bancshares lifted their price objective on shares of Air Products & Chemicals from $200.00 to $215.00 and gave the company a positive rating in a research note on Wednesday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of Air Products & Chemicals from $172.00 to $170.00 and set an overweight rating on the stock in a research report on Friday, July 27th. ValuEngine cut shares of Air Products & Chemicals from a buy rating to a hold rating in a research report on Tuesday, June 5th. Finally, Citigroup boosted their price target on shares of Air Products & Chemicals from $198.00 to $200.00 and gave the stock a buy rating in a research report on Wednesday, July 11th. Two research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Air Products & Chemicals has an average rating of Buy and an average target price of $186.65.

Shares of NYSE APD opened at $169.85 on Monday. Air Products & Chemicals has a fifty-two week low of $149.94 and a fifty-two week high of $175.17. The company has a current ratio of 2.40, a quick ratio of 2.24 and a debt-to-equity ratio of 0.35. The stock has a market cap of $37.41 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.42 and a beta of 1.06.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.11. Air Products & Chemicals had a net margin of 17.13% and a return on equity of 15.15%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. analysts predict that Air Products & Chemicals will post 7.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 12th. Shareholders of record on Monday, October 1st will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, September 28th. Air Products & Chemicals’s dividend payout ratio (DPR) is presently 69.73%.

Institutional investors have recently modified their holdings of the business. Royal London Asset Management Ltd. acquired a new stake in Air Products & Chemicals during the 2nd quarter worth about $13,567,000. TPG Group Holdings SBS Advisors Inc. raised its holdings in Air Products & Chemicals by 6.8% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 619,384 shares of the basic materials company’s stock worth $96,457,000 after buying an additional 39,395 shares during the period. Bank of New York Mellon Corp raised its holdings in Air Products & Chemicals by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,148,186 shares of the basic materials company’s stock worth $490,265,000 after buying an additional 68,094 shares during the period. Schroder Investment Management Group raised its holdings in Air Products & Chemicals by 3,173.6% during the 2nd quarter. Schroder Investment Management Group now owns 70,349 shares of the basic materials company’s stock worth $10,977,000 after buying an additional 68,200 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Air Products & Chemicals by 12.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 60,987 shares of the basic materials company’s stock worth $9,498,000 after buying an additional 6,587 shares during the period. Hedge funds and other institutional investors own 85.93% of the company’s stock.

Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, electronics and performance materials, 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 metals, glass, chemical processing, electronics, energy production and refining, food processing, metallurgical, medical, and general manufacturing.

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

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