Air Products and Chemicals, Inc. (NYSE:APD) Plans $1.79 Quarterly Dividend

Air Products and Chemicals, Inc. (NYSE:APD - Get Free Report) announced a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Tuesday, July 1st will be given a dividend of 1.79 per share by the basic materials company on Monday, August 11th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, July 1st.

Air Products and Chemicals has raised its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 50 consecutive years. Air Products and Chemicals has a dividend payout ratio of 54.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Air Products and Chemicals to earn $13.86 per share next year, which means the company should continue to be able to cover its $7.16 annual dividend with an expected future payout ratio of 51.7%.

Air Products and Chemicals Trading Up 0.3%

Shares of NYSE APD traded up $0.79 during trading on Friday, reaching $270.03. The company had a trading volume of 527,583 shares, compared to its average volume of 1,446,926. The company's fifty day moving average price is $273.90 and its 200-day moving average price is $298.80. Air Products and Chemicals has a 12 month low of $243.69 and a 12 month high of $341.14. The stock has a market cap of $60.09 billion, a P/E ratio of 15.68, a PEG ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.83 by ($0.14). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm posted $2.85 EPS. The company's quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts expect that Air Products and Chemicals will post 12.69 earnings per share for the current year.

Insider Transactions at Air Products and Chemicals

In other news, VP Walter L. Nelson sold 589 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $308.50, for a total value of $181,706.50. Following the completion of the sale, the vice president now directly owns 719 shares of the company's stock, valued at $221,811.50. This represents a 45.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company's stock.

Institutional Trading of Air Products and Chemicals

An institutional investor recently bought a new position in Air Products and Chemicals stock. Bison Wealth LLC purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 845 shares of the basic materials company's stock, valued at approximately $245,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BNP Paribas upgraded Air Products and Chemicals to a "strong-buy" rating in a research report on Tuesday, February 11th. Barclays dropped their price target on Air Products and Chemicals from $355.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets downgraded Air Products and Chemicals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. Wall Street Zen downgraded Air Products and Chemicals from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $330.38.

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.