Air Products and Chemicals, Inc. (NYSE:APD) has earned a consensus rating of “Buy” from the seventeen research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $320.88.
APD has been the subject of several recent analyst reports. Mizuho initiated coverage on shares of Air Products and Chemicals in a research note on Friday, November 5th. They issued a “buy” rating and a $312.00 target price for the company. BMO Capital Markets raised their target price on shares of Air Products and Chemicals from $312.00 to $338.00 and gave the stock an “outperform” rating in a research note on Friday, October 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Air Products and Chemicals from $315.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 5th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $335.00 target price for the company in a research note on Tuesday, January 4th. Finally, Wolfe Research cut shares of Air Products and Chemicals from an “outperform” rating to a “peer perform” rating and reduced their target price for the stock from $332.00 to $331.00 in a research note on Thursday, December 9th.
NYSE:APD traded down $2.67 during trading hours on Friday, reaching $291.62. 39,981 shares of the company’s stock were exchanged, compared to its average volume of 744,118. The firm has a market capitalization of $64.65 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 2.42 and a beta of 0.80. The company has a 50-day moving average of $299.17 and a 200 day moving average of $286.08. The company has a quick ratio of 2.83, a current ratio of 2.99 and a debt-to-equity ratio of 0.51. Air Products and Chemicals has a 1-year low of $245.75 and a 1-year high of $316.39.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 14th. Shareholders of record on Monday, January 3rd will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.06%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.56%.
In other news, Director Edward L. Monser purchased 80 shares of the stock in a transaction dated Tuesday, November 9th. The stock was acquired at an average cost of $314.49 per share, for a total transaction of $25,159.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Melissa N. Schaeffer sold 318 shares of Air Products and Chemicals stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $314.00, for a total transaction of $99,852.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Air Products and Chemicals by 1.2% in the second quarter. Vanguard Group Inc. now owns 19,348,853 shares of the basic materials company’s stock worth $5,566,277,000 after acquiring an additional 232,987 shares during the last quarter. State Street Corp lifted its position in Air Products and Chemicals by 6.0% during the second quarter. State Street Corp now owns 11,086,577 shares of the basic materials company’s stock valued at $3,205,963,000 after buying an additional 628,329 shares in the last quarter. Capital International Investors lifted its position in Air Products and Chemicals by 8.0% during the second quarter. Capital International Investors now owns 7,711,588 shares of the basic materials company’s stock valued at $2,218,508,000 after buying an additional 571,313 shares in the last quarter. Franklin Resources Inc. lifted its position in Air Products and Chemicals by 2.1% during the third quarter. Franklin Resources Inc. now owns 5,406,005 shares of the basic materials company’s stock valued at $1,384,551,000 after buying an additional 109,712 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Air Products and Chemicals by 2.1% during the third quarter. Geode Capital Management LLC now owns 3,627,170 shares of the basic materials company’s stock valued at $926,585,000 after buying an additional 75,068 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.
About Air Products and Chemicals
Air Products & Chemicals, Inc engages in the manufacture and distribution of atmospheric gases. It operates through the following segments: Industrial Gases-Americas, Industrial Gases-EMEA (Europe, Middle East, and Africa), Industrial Gases-Asia, Industrial Gases-Global, and Corporate & Other. The Industrial Gases-America, EMEA, and Asia segment markets and produces atmospheric gases, such as oxygen, nitrogen, argon, and rare gases, process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases and equipment for the production and processing of gases, such as air separation units and non-cryogenic generators.
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