Air Products and Chemicals (NYSE:APD) Shares Gap Down Following Weak Earnings

Air Products and Chemicals, Inc. (NYSE:APD) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $328.13, but opened at $319.90. Air Products and Chemicals shares last traded at $315.47, with a volume of 644,606 shares.

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 net margin of 31.64% and a return on equity of 16.34%.

Air Products and Chemicals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 2.30%. The ex-dividend date 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 dividend payout ratio (DPR) is currently 41.21%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $320.00 price target (down previously from $345.00) on shares of Air Products and Chemicals in a report on Friday. Bank of America cut Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a research note on Friday, October 25th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $339.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APD. Geode Capital Management LLC increased its stake in shares of Air Products and Chemicals by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,874,347 shares of the basic materials company’s stock worth $1,448,570,000 after acquiring an additional 88,806 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Air Products and Chemicals in the 4th quarter valued at about $885,371,000. Pathway Financial Advisers LLC boosted its holdings in Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Air Products and Chemicals by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,449 shares of the basic materials company’s stock valued at $605,734,000 after purchasing an additional 30,888 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Air Products and Chemicals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 2,043,099 shares of the basic materials company’s stock valued at $608,312,000 after purchasing an additional 33,313 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Air Products and Chemicals Stock Down 5.3 %

The firm’s fifty day simple moving average is $310.30 and its two-hundred day simple moving average is $300.85. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $69.09 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85.

Air Products and Chemicals Company Profile

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.