Barclays Cuts Air Products and Chemicals (NYSE:APD) Price Target to $355.00

Air Products and Chemicals (NYSE:APD - Free Report) had its price objective decreased by Barclays from $365.00 to $355.00 in a research note published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the basic materials company's stock.

A number of other research analysts have also recently weighed in on APD. Sanford C. Bernstein upgraded shares of Air Products and Chemicals from a "market perform" rating to an "outperform" rating and set a $375.00 target price on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $320.00 price objective (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. BMO Capital Markets downgraded Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research report on Friday, February 7th. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.88.

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Air Products and Chemicals Stock Down 7.0 %

NYSE:APD traded down $19.85 on Tuesday, hitting $263.35. The stock had a trading volume of 1,762,347 shares, compared to its average volume of 1,485,821. Air Products and Chemicals has a 1 year low of $227.53 and a 1 year high of $341.14. The firm's fifty day simple moving average is $308.14 and its two-hundred day simple moving average is $309.11. The stock has a market cap of $58.59 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.11.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly 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 15.78% and a net margin of 31.88%. Analysts predict that Air Products and Chemicals will post 12.69 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from Air Products and Chemicals's previous quarterly dividend of $1.77. Air Products and Chemicals's dividend payout ratio is currently 41.58%.

Insiders Place Their Bets

In related news, insider Francesco Maione sold 2,016 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $306.00, for a total transaction of $616,896.00. Following the transaction, the insider now owns 3,834 shares of the company's stock, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sean D. Major sold 4,500 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the sale, the vice president now directly owns 14,273 shares of the company's stock, valued at $4,502,560.58. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last 90 days. Insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Generali Investments Management Co LLC bought a new position in shares of Air Products and Chemicals in the fourth quarter worth approximately $26,000. Raleigh Capital Management Inc. grew its holdings in Air Products and Chemicals by 69.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company's stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Air Products and Chemicals in the fourth quarter valued at about $30,000. Financial Life Planners purchased a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $31,000. Finally, WR Wealth Planners LLC grew its stake in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

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.