Air Products and Chemicals Inc. (NYSE:APD) – Analysts at Seaport Global Securities decreased their Q4 2016 earnings estimates for Air Products and Chemicals in a research note issued to investors on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the brokerage will earn $1.99 per share for the quarter, down from their previous estimate of $2.00. Seaport Global Securities has a “Buy” rating and a $165.00 price objective on the stock.
Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.02. The business earned $2.43 billion during the quarter, compared to the consensus estimate of $2.41 billion. Air Products and Chemicals had a return on equity of 22.00% and a net margin of 6.12%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS.
A number of other equities research analysts have also recently commented on APD. Zacks Investment Research cut Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Citigroup Inc. increased their price target on Air Products and Chemicals from $155.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. Jefferies Group reiterated a “hold” rating and issued a $155.00 price target on shares of Air Products and Chemicals in a research note on Friday, July 29th. JPMorgan Chase & Co. upgraded Air Products and Chemicals from a “neutral” rating to an “overweight” rating and increased their price target for the company from $140.00 to $160.00 in a research note on Friday, August 12th. Finally, Credit Suisse Group AG set a $163.00 price target on Air Products and Chemicals and gave the company a “buy” rating in a research note on Monday, September 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $151.43.
Shares of Air Products and Chemicals (NYSE:APD) opened at 133.82 on Tuesday. The firm’s 50 day moving average price is $138.00 and its 200-day moving average price is $135.84. Air Products and Chemicals has a 1-year low of $106.05 and a 1-year high of $146.01. The company has a market capitalization of $28.98 billion, a P/E ratio of 50.06 and a beta of 1.23.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be issued a $0.86 dividend. The ex-dividend date is Thursday, October 6th. This represents a $3.44 dividend on an annualized basis and a yield of 2.57%. Air Products and Chemicals’s dividend payout ratio is currently 128.84%.
In other Air Products and Chemicals news, VP Guillermo Novo sold 2,447 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $148.94, for a total value of $364,456.18. Following the transaction, the vice president now owns 12,805 shares of the company’s stock, valued at $1,907,176.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John D. Stanley sold 17,247 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $155.39, for a total transaction of $2,680,011.33. Following the completion of the transaction, the senior vice president now directly owns 36,129 shares in the company, valued at approximately $5,614,085.31. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of APD. FMR LLC boosted its position in shares of Air Products and Chemicals by 172.3% in the second quarter. FMR LLC now owns 3,058,173 shares of the company’s stock worth $434,383,000 after buying an additional 1,934,959 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Air Products and Chemicals during the first quarter worth about $198,943,000. Natixis boosted its position in shares of Air Products and Chemicals by 2,829.0% in the first quarter. Natixis now owns 960,396 shares of the company’s stock worth $138,345,000 after buying an additional 927,607 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Air Products and Chemicals by 4.6% in the second quarter. Vanguard Group Inc. now owns 14,212,043 shares of the company’s stock worth $2,018,678,000 after buying an additional 625,648 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Air Products and Chemicals by 131.6% in the second quarter. Prudential Financial Inc. now owns 893,234 shares of the company’s stock worth $126,875,000 after buying an additional 507,538 shares in the last quarter. 88.46% of the stock is currently owned by hedge funds and other institutional investors.
About Air Products and Chemicals
Air Products and Chemicals, Inc is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
Receive News & Ratings for Air Products and Chemicals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Products and Chemicals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.