Air Products and Chemicals, Inc. (APD) to Issue Quarterly Dividend of $1.77 on August 12th

Air Products and Chemicals, Inc. (NYSE:APD) declared a quarterly dividend on Friday, May 17th, RTT News reports. Shareholders of record on Monday, July 1st will be given a dividend of 1.77 per share by the basic materials company on Monday, August 12th. This represents a $7.08 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, July 1st.

Air Products and Chemicals has raised its dividend by an average of 9.3% per year over the last three years and has raised its dividend annually for the last 49 consecutive years. Air Products and Chemicals has a dividend payout ratio of 52.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Air Products and Chemicals to earn $13.54 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 52.3%.

Air Products and Chemicals Trading Down 2.0 %

NYSE:APD opened at $257.74 on Friday. The company has a market cap of $57.30 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 2.86 and a beta of 0.84. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71. The business has a 50 day moving average price of $259.73 and a two-hundred day moving average price of $251.94.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.74 EPS. As a group, analysts expect that Air Products and Chemicals will post 12.3 EPS for the current fiscal year.

Analyst Ratings Changes

APD has been the subject of several recent analyst reports. Bank of America increased their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a report on Monday, June 10th. Mizuho lowered their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Barclays increased their price objective on Air Products and Chemicals from $245.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. Morgan Stanley increased their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Finally, StockNews.com upgraded Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $287.29.

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.