PPG (PPG) (VAL) (APD) (DOW) (EMN) (PX) (SHW) (CE) Get New Coverage

Celanese Co. (NYSE: CE), PPG (NYSE: PPG), The Valspar Co. (NYSE: VAL), Air Products & Chemicals, Inc. (NYSE: APD), The Dow Chemical Company (NYSE: DOW), Eastman Chemical Co (NYSE: EMN), Praxair, Inc. (NYSE: PX) and The Sherwin Williams Co (NYSE: SHW) getting new coverage from analysts.

Barclays Capital initiated coverage on Air Products & Chemicals, Inc. (APD). They have an "Overweight" rating and a price target of $97.00 on the company.

Barclays Capital initiated coverage on Celanese Co. (CE). They have an "Overweight" rating and a price target of $49.00 on the company.

Barclays Capital initiated coverage on Dow Chemical Company (DOW). They have an "Equal Weight" rating and a price target of $34.00 on the company.

Barclays Capital initiated coverage on Eastman Chemical Co. (EMN). They have an "Equal Weight" rating and a price target of $92.00 on the company.

Barclays Capital initiated coverage on PPG (PPG). They have an "Equal Weight" rating and a price target of $85.00 on the company.

Barclays Capital initiated coverage on Praxair, Inc. (PX). They have an "Equal Weight" rating and a price target of $105.00 on the company.

Barclays Capital initiated coverage on the Sherwin Williams Co. (SHW). They have an "Equal Weight" rating and a price target of $81.00 on the company.

Barclays Capital initiated coverage on the Valspar Co. (VAL). They have an "Equal Weight" rating and a price target of $35.00 on the company.

Goodrich (GR) (CAT) (ALK) (APD) (ALB) (SFG) Price Targets Changed

Goodrich Co. (NYSE: GR), Caterpillar Inc. (NYSE: CAT), Alaska Air (NYSE: ALK), Air Products & Chemicals, Inc. (NYSE: APD), Albemarle Co. (NYSE: ALB) and StanCorp Financial Group, Inc. (NYSE: SFG) price targets adjusted by analysts.

Barclays Capital raised its price target on Goodrich Co. (GR) to $120.00. They have an “Overweight” rating on the company.

Credit Suisse (NYSE:CS) raised its price target on Caterpillar Inc. (CAT) to $158.00. They have an “Outperform” rating on the company.

Ticonderoga cut its price target on Alaska Air (ALK) from $83.00 to $81.00. They have a “Buy” rating on the company.

Citigroup (NYSE:C) raised its price target on Air Products & Chemicals, Inc. (APD) to $109.00.

Citigroup (NYSE:C) raised its price target on Albemarle Co. (ALB) to $81.00.

McAdams Wright Ragen slashed its price target on StanCorp Financial Group, Inc. (SFG) from $52.00 to $41.00. They have a “Buy” rating on the company.

Dividends on (SPTN) (SYBT) (XEL) (LUV) (APD) Declared

Spartan Stores Inc (NASDAQ:SPTN), S Y BANCORP INC (NASDAQ:SYBT), Xcel Energy Inc (NYSE:XEL), Southwest Airlines Inc. (NYSE:LUV) and Air Products And Chemicals Inc. (NYSE:APD) declare dividends.

The Board of Directors of Spartan Stores Inc (SPTN) declared a quarterly common stock dividend of $0.065 per share payable 6/15/11 to shareholders of record at the close of business on 6/1/11.

The Board of Directors of S Y Bancorp Inc (SYBT) declared a quarterly common stock dividend of $0.18 per share payable 7/1/11 to shareholders of record at the close of business on 6/13/11.

The Board of Directors of Xcel Energy Inc (XEL) declared a quarterly common stock dividend of $0.26 per share payable 7/20/11 to shareholders of record at the close of business on 6/23/11.

The Board of Directors of Southwest Airlines Inc. (LUV) declared a quarterly common stock dividend of $0.0045 per share payable 6/22/11 to shareholders of record at the close of business on 6/8/11.

The Board of Directors of Air Products And Chemicals Inc. (APD) declared a quarterly common stock dividend of $0.58 per share payable 8/8/11 to shareholders of record at the close of business on 7/1/11.

Dividend Yields for (BMS) (MWV) (DD) (DOW) (APD)

Indicated dividend yields for Standard & Poor's 500 Index companies Bemis Co Inc (BMS), MeadWestvaco Corp (MWV), EI du Pont de Nemours & Co (DD), Dow Chemical Co (DOW) and Air Products & Chemicals (APD).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Bemis Co Inc (BMS) has a dividend yield of 3.06 percent on a declared dividend of $0.24. The payout ratio is 51.1 percent.

MeadWestvaco Corp (MWV) has a dividend yield of 2.97 percent on a declared dividend of $0.25. The payout ratio is 60.8 percent.

EI du Pont de Nemours & Co (DD) has a dividend yield of 2.89 percent on a declared dividend of $0.41. The payout ratio is 26.6 percent.

Dow Chemical Co (DOW) has a dividend yield of 2.44 percent on a declared dividend of $0.25. The payout ratio is 27.3 percent.

Air Products & Chemicals Inc (APD) has a dividend yield of 2.43 percent on a declared dividend of $0.58. The payout ratio is 40.4 percent.

Air Products' (NYSE:APD) "Final Offer" Rejected by Airgas (NYSE:ARG)

The board of Airgas (NYSE:ARG) has unanimously rejected the final offer made by Air Products (NYSE:APD), which was increased 7 percent from the previous offer to $70 a share. That valued Airgas at $5.88 billion.

Airgas called the latest offer as their "best and final" one.

The board of Airgas said it was "clearly inadequate," and they believe the company is worth a minimum of $78 a share.

Air Products responded, saying, if the board of Airgas was so confident in the value of the company than they shouldn't have any problem allowing shareholders to make the decision on the bid.

The company also noted that before the first bid by them Airgas has a bid 61 percent higher than when they closed the day before.

Airgas closed Wednesday at $61.44, down $1.78, or 2.82 percent. Air Products closed at $90.57, up $0.04, or 0.04 percent.

The offer for the company will expire on January 14 if no response comes.

Air Products & Chemicals (NYSE:APD) Awaits Poison Pill Ruling

Air Products & Chemicals (NYSE:APD) is probably still pursuing Airgas, and Jefferies believes the company won't make their next move until after a court ruling on a poison pill provision.

Jefferies said, "The Chancery court deadline of December 10 may suffice to precipitate a higher offer; or Air Products may hang fire and wait until after the the court rules on the poison pill provision (probably before year-end) before it makes its next move."

ESP estimates were raised for full year 2011 from $5.65 to $5.75, and for full year 2012 from $6.15 to $6.55.

Jefferies maintains their "Buy" rating on the company, which closed Monday at $87.69, up by $0.08, or 0.09 percent. They raised their price target on them from $96 to $105.