Air Products and Chemicals, Inc. Declares Quarterly Dividend of $1.77 (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) announced a quarterly dividend on Thursday, November 21st,RTT News reports. Shareholders of record on Thursday, January 2nd will be given a dividend of 1.77 per share by the basic materials company on Monday, February 10th. This represents a $7.08 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, January 2nd.

Air Products and Chemicals has raised its dividend by an average of 9.3% annually over the last three years and has raised its dividend annually for the last 49 consecutive years. Air Products and Chemicals has a payout ratio of 55.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Air Products and Chemicals to earn $14.16 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 50.0%.

Air Products and Chemicals Stock Down 1.4 %

APD opened at $288.69 on Tuesday. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $315.06 and its 200-day moving average price is $291.80. The company has a market cap of $64.20 billion, a P/E ratio of 16.80, a P/E/G ratio of 3.13 and a beta of 0.81.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APD. Citigroup increased their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com raised shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 target price for the company in a report on Monday, November 18th. Barclays upped their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Finally, Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

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.