Air Products and Chemicals’ (APD) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Air Products and Chemicals (NYSE:APD) in a research report report published on Friday morning, Marketbeat reports. The brokerage currently has a $320.00 price target on the basic materials company’s stock, down from their previous price target of $345.00.

Several other analysts also recently weighed in on the company. Sanford C. Bernstein upgraded 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. BMO Capital Markets lifted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Citigroup increased their target price on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, UBS Group increased their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals Stock Performance

Shares of NYSE:APD opened at $310.66 on Friday. The company has a market cap of $69.09 billion, a P/E ratio of 18.08, a PEG ratio of 3.55 and a beta of 0.85. Air Products and Chemicals has a one year low of $213.80 and a one year high of $341.14. The business’s 50-day simple moving average is $310.30 and its 200 day simple moving average is $300.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 16.34% and a net margin of 31.64%. On average, sell-side analysts forecast that Air Products and Chemicals will post 12.76 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. 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 41.21%.

Institutional Investors Weigh In On Air Products and Chemicals

Large investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in shares of Air Products and Chemicals during the third quarter worth about $25,000. Raleigh Capital Management Inc. boosted its stake in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Sierra Ocean LLC bought a new position in Air Products and Chemicals in the 4th quarter worth about $30,000. 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 raised its holdings in shares of Air Products and Chemicals by 40.3% during the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after buying an additional 31 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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.