Air Products and Chemicals, Inc. (APD) To Go Ex-Dividend on July 1st

Air Products and Chemicals, Inc. (NYSE:APDGet Free Report) announced a quarterly dividend on Friday, May 17th, RTT News reports. Shareholders of record on Monday, July 1st will be paid a dividend of 1.77 per share by the basic materials company on Monday, August 12th. This represents a $7.08 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Monday, July 1st.

Air Products and Chemicals has increased its dividend payment by an average of 9.3% per year over the last three years and has raised its dividend every year for the last 49 years. Air Products and Chemicals has a payout ratio of 52.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Air Products and Chemicals to earn $13.55 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 52.3%.

Air Products and Chemicals Stock Up 2.2 %

APD stock opened at $262.70 on Friday. The firm has a market capitalization of $58.40 billion, a PE ratio of 23.71, a P/E/G ratio of 2.78 and a beta of 0.80. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $307.71. The stock’s 50 day moving average is $241.07 and its 200-day moving average is $252.02.

Air Products and Chemicals (NYSE:APDGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.15. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the business earned $2.74 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that Air Products and Chemicals will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APD. JPMorgan Chase & Co. reduced their price objective on shares of Air Products and Chemicals from $270.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. TheStreet downgraded Air Products and Chemicals from a “b” rating to a “c+” rating in a research report on Monday, February 5th. BMO Capital Markets lifted their price target on Air Products and Chemicals from $250.00 to $263.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Citigroup reduced their price objective on Air Products and Chemicals from $285.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, TD Cowen raised their target price on Air Products and Chemicals from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $273.77.

Read Our Latest Stock Report on APD

Air Products and Chemicals Company Profile

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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.

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

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