Air Products and Chemicals (NYSE:APD) Sets New 1-Year High After Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Mizuho upped 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 price objective for the company in a research report on Monday, October 7th. The Goldman Sachs Group raised their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $310.63 and its 200 day moving average price is $282.91. The company has a market cap 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.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APD. Anchor Investment Management LLC boosted its holdings in 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 valued at $872,000 after acquiring an additional 768 shares during the period. Tudor Financial Inc. acquired a new position in shares of Air Products and Chemicals during the 3rd quarter worth about $1,654,000. Chelsea Counsel Co. boosted its stake in Air Products and Chemicals by 1.5% during the 3rd quarter. Chelsea Counsel Co. now owns 3,377 shares of the basic materials company’s stock valued at $1,005,000 after purchasing 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 valued at $7,930,000 after buying an additional 571 shares during 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 worth $1,183,000 after buying an additional 1,134 shares during the period. Institutional investors 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.