Air Products and Chemicals (NYSE:APD) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Air Products and Chemicals (NYSE:APDGet Free Report) issued its quarterly earnings data on Monday. The basic materials company reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($0.18), MarketWatch Earnings reports. Air Products and Chemicals had a return on equity of 16.84% and a net margin of 18.82%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. Air Products and Chemicals’s quarterly revenue was down 5.6% compared to the same quarter last year.

Air Products and Chemicals Stock Down 1.3 %

Shares of NYSE APD opened at $215.27 on Thursday. The firm’s 50-day simple moving average is $263.71 and its 200 day simple moving average is $278.10. The company has a market cap of $47.84 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.56 and a beta of 0.85. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.74. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 1st will be given a dividend of $1.77 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $7.08 annualized dividend and a yield of 3.29%. Air Products and Chemicals’s dividend payout ratio is 66.79%.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research reports. StockNews.com lowered shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets dropped their target price on shares of Air Products and Chemicals from $307.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered shares of Air Products and Chemicals from an “overweight” rating to an “equal weight” rating in a report on Monday. Barclays lowered their price target on shares of Air Products and Chemicals from $260.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Mizuho lowered their price target on shares of Air Products and Chemicals from $304.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Air Products and Chemicals has a consensus rating of “Hold” and an average target price of $290.00.

View Our Latest Analysis on APD

Insider Buying and Selling

In related news, CEO Seifi Ghasemi purchased 11,000 shares of Air Products and Chemicals stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $264.42 per share, for a total transaction of $2,908,620.00. Following the transaction, the chief executive officer now directly owns 670,673 shares in the company, valued at $177,339,354.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its stake in Air Products and Chemicals by 8.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,724 shares of the basic materials company’s stock worth $1,055,000 after purchasing an additional 292 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Air Products and Chemicals during the 3rd quarter worth approximately $837,000. Orion Portfolio Solutions LLC increased its stake in Air Products and Chemicals by 1,644.2% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 32,285 shares of the basic materials company’s stock worth $9,670,000 after purchasing an additional 30,434 shares in the last quarter. GTS Securities LLC bought a new stake in Air Products and Chemicals during the 2nd quarter worth approximately $1,591,000. Finally, National Pension Service increased its stake in Air Products and Chemicals by 17.9% during the 2nd quarter. National Pension Service now owns 374,167 shares of the basic materials company’s stock worth $110,286,000 after purchasing an additional 56,710 shares in the last quarter. 82.62% of the stock is owned by institutional investors.

Air Products and Chemicals Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Air Products and Chemicals (NYSE:APD)

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