Air Products and Chemicals (NYSE:APD) Sets New 52-Week High Following Dividend Announcement

Air Products and Chemicals, Inc. (NYSE:APD)’s share price reached a new 52-week high during trading on Friday following a dividend announcement from the company. The stock traded as high as $332.69 and last traded at $332.30, with a volume of 265564 shares changing hands. The stock had previously closed at $328.88.

The newly announced dividend which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.13%. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on APD. Mizuho boosted their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a report on Monday, October 7th. Citigroup increased their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Finally, StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Stock Performance

The stock has a market capitalization of $73.77 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.30 and a beta of 0.81. The company has a fifty day moving average of $310.63 and a two-hundred day moving average of $282.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its position in shares of Air Products and Chemicals by 35.5% during the third quarter. Anchor Investment Management LLC now owns 2,930 shares of the basic materials company’s stock worth $872,000 after acquiring an additional 768 shares during the last quarter. Tudor Financial Inc. bought a new stake in shares of Air Products and Chemicals during the third quarter valued at approximately $1,654,000. Chelsea Counsel Co. boosted its position in shares of Air Products and Chemicals by 1.5% during the third quarter. Chelsea Counsel Co. now owns 3,377 shares of the basic materials company’s stock worth $1,005,000 after buying an additional 50 shares during the period. Soltis Investment Advisors LLC grew its holdings in Air Products and Chemicals by 2.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 26,634 shares of the basic materials company’s stock worth $7,930,000 after buying an additional 571 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in Air Products and Chemicals by 39.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 3,973 shares of the basic materials company’s stock valued at $1,183,000 after acquiring an additional 1,134 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.