Air Products and Chemicals (NYSE:APD) Price Target Raised to $365.00

Air Products and Chemicals (NYSE:APD) had its price target increased by Wells Fargo & Company from $350.00 to $365.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Several other research analysts have also recently commented on APD. Citigroup raised 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 report on Monday, November 11th. UBS Group raised their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target for the company in a report on Friday, October 25th. Bank of America cut shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $320.00 price target (down from $345.00) on shares of Air Products and Chemicals in a report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.94.

Air Products and Chemicals Stock Performance

Shares of APD opened at $310.66 on Friday. Air Products and Chemicals has a one year low of $213.80 and a one year high of $341.14. The company has a 50-day moving average of $309.83 and a two-hundred day moving average of $301.60. The stock has a market cap of $69.09 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.34.

Air Products and Chemicals (NYSE:APD) last announced its earnings results on Thursday, February 6th. The basic materials company reported $2.86 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, equities research analysts expect that Air Products and Chemicals will post 12.77 earnings per share for the current year.

Air Products and Chemicals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is presently 41.11%.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals in the third quarter worth $25,000. Raleigh Capital Management Inc. raised its stake in Air Products and Chemicals by 69.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 105 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Sierra Ocean LLC acquired a new position in Air Products and Chemicals during the 4th quarter valued at $30,000. Financial Life Planners acquired a new position in Air Products and Chemicals during the 4th quarter valued at $31,000. Finally, WR Wealth Planners LLC raised its stake in Air Products and Chemicals by 40.3% during the 4th quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 31 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

About Air Products and Chemicals

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.