Air Products and Chemicals (NYSE:APD) Given New $355.00 Price Target at Barclays

Air Products and Chemicals (NYSE:APD) had its price target trimmed by Barclays from $365.00 to $355.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut Air Products and Chemicals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Bank of America lowered Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research report on Monday, January 27th. UBS Group decreased their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a report on Friday, March 14th. Wells Fargo & Company lifted their price objective on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Air Products and Chemicals presently has a consensus rating of “Moderate Buy” and an average target price of $340.88.

Air Products and Chemicals Price Performance

APD opened at $293.47 on Tuesday. Air Products and Chemicals has a 1 year low of $227.53 and a 1 year high of $341.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11. The company’s 50 day simple moving average is $310.71 and its 200 day simple moving average is $309.58. The stock has a market capitalization of $65.29 billion, a PE ratio of 17.04, a P/E/G ratio of 3.07 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. As a group, sell-side analysts expect that Air Products and Chemicals will post 12.69 EPS for the current year.

Air Products and Chemicals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is 41.58%.

Insider Transactions at Air Products and Chemicals

In related news, insider Wilbur Mok sold 1,300 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $315.88, for a total transaction of $410,644.00. Following the completion of the transaction, the insider now directly owns 3,193 shares in the company, valued at $1,008,604.84. This represents a 28.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Walter L. Nelson sold 589 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now owns 719 shares in the company, valued at $221,811.50. The trade was a 45.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,500 shares of company stock worth $4,842,604. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Air Products and Chemicals

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Air Products and Chemicals by 106.3% during the 4th 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 raised its holdings in shares of 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 valued at $111,488,000 after buying an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Air Products and Chemicals during the fourth quarter worth approximately $7,269,000. Diversify Wealth Management LLC grew its holdings in Air Products and Chemicals by 88.2% in the 4th quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after buying an additional 4,916 shares in the last quarter. Finally, World Investment Advisors LLC increased its position in 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 acquiring an additional 35,479 shares during the period. Institutional investors own 81.66% of the company’s stock.

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.