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Stock Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products’ Spin-Off Company Versum Materials Headquarters to be in Tempe, Arizona

[PR Newswire] – LEHIGH VALLEY, Pa., June 28, 2016 /PRNewswire/ — Air Products (APD) continues to work toward the previously announced intended spin-off of its Materials Technologies’ Electronic Materials Division (EMD), to what is to become Versum Materials. As part of this continuing process, Versum Materials today announced when it becomes a standalone company, its headquarters offices will be located in Tempe, Arizona. “Part of our overall strategy as a separate company is to be more market facing and agile by co-locating our business capabilities closer to the companies we serve. Read more on this. Air Products and Chemicals, Inc. (APD) , with a current market cap of $29.25B, started trading this morning at $136.09. During today’s session, APD traded between $134.34 to $136.80 and has traded between $114.64 and $152.16 over the past year. APD shares are currently priced at 18.02x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.61x earnings multiple for the same period. And for passive income investors, the company pays shareholders $3.44 per share annually in dividends, yielding 2.46%. According to a consensus of 16 analysts, the earnings estimate of $1.91 per share would be $0.26 better than the year-ago quarter and a $0.01 sequential increase. Investors should also note that the full-year EPS estimate of $7.48 is a $0.91 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.41 Billion. If realized, that would be a 2.43% decrease over the year-ago quarter. In terms of ratings, Deutsche Bank downgraded APD from Buy to Hold (Apr 4, 2016). Previously, KeyBanc Capital Mkts upgraded APD from Sector Weight to Overweight. With the above information in mind, readers should note that the average price target is $156.06, which is 14.67% above where the stock opened this morning. See more in (NYSE:APD) Similar Articles: Market Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products’ CEO and Materials Technologies VP to Speak at Deutsche Bank Global Industrials and Materials Summit on June 8 Stock Update: Air Products & Chemicals Inc (NYSE:APD) – Air Products’ CEO to Speak at Goldman Sachs Basic Materials Conference on May 17 Company Update: Air Products & Chemicals Inc (NYSE:APD) – Chemicals – Major Diversified Stocks Review — The Dow Chemical, Huntsman, Air Products and Chemicals, and Praxair
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