Analysts Set Air Products and Chemicals, Inc. (NYSE:APD) Price Target at $340.50

Shares of Air Products and Chemicals, Inc. (NYSE:APD) have been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $339.94.

A number of equities analysts recently commented on the company. Bank of America cut 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. Citigroup raised their price target on shares of 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. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price for the company in a research note on Friday, October 25th. UBS Group boosted their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $320.00 target price (down previously from $345.00) on shares of Air Products and Chemicals in a research note on Friday.

Air Products and Chemicals Stock Down 5.3 %

Shares of NYSE APD opened at $310.66 on Friday. The firm’s 50-day moving average is $309.83 and its 200-day moving average is $301.60. The company has a current ratio of 1.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $69.09 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. Air Products and Chemicals has a 1 year low of $213.80 and a 1 year high of $341.14.

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

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Air Products and Chemicals by 106.3% during the fourth quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after buying an additional 6,952 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Air Products and Chemicals by 59.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after purchasing an additional 139,223 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Air Products and Chemicals during the 4th quarter valued at about $7,269,000. Forsta AP Fonden boosted its position in shares of Air Products and Chemicals by 13.4% in the 3rd quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock worth $13,607,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in shares of Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock worth $3,074,000 after acquiring an additional 4,916 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.