Air Products and Chemicals (NYSE:APD) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Air Products and Chemicals, Inc. (NYSE:APD)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $291.64 and traded as high as $295.83. Air Products and Chemicals shares last traded at $292.81, with a volume of 456,986 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APD. BMO Capital Markets boosted their price target on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Barclays increased their target price on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Mizuho raised their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Stock Down 0.8 %

The business’s 50-day moving average price is $315.92 and its 200-day moving average price is $291.64. The firm has a market capitalization of $65.12 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is currently 41.21%.

Institutional Trading of Air Products and Chemicals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Air Products and Chemicals by 0.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,720 shares of the basic materials company’s stock worth $2,766,000 after purchasing an additional 69 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Air Products and Chemicals by 16.0% during the 2nd quarter. Signaturefd LLC now owns 3,682 shares of the basic materials company’s stock valued at $950,000 after purchasing an additional 507 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Air Products and Chemicals by 14.7% in the second quarter. International Assets Investment Management LLC now owns 2,389 shares of the basic materials company’s stock worth $617,000 after purchasing an additional 307 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in Air Products and Chemicals during the second quarter worth $3,620,000. Finally, Birch Hill Investment Advisors LLC increased its holdings in shares of Air Products and Chemicals by 6.9% during the 2nd quarter. Birch Hill Investment Advisors LLC now owns 15,464 shares of the basic materials company’s stock valued at $3,990,000 after acquiring an additional 995 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.