Air Products and Chemicals (NYSE:APD) Raised to “Overweight” at Barclays

Barclays upgraded shares of Air Products and Chemicals (NYSE:APD) from an equal weight rating to an overweight rating in a research note released on Friday, MarketBeat Ratings reports. The firm currently has $365.00 price objective on the basic materials company’s stock, up from their previous price objective of $315.00.

Other analysts have also issued reports about the company. Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Redburn Atlantic upgraded 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 report on Friday, October 25th. JPMorgan Chase & Co. reduced 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. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $364.00 in a report on Monday, October 7th. Finally, Citigroup lifted 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 research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $335.65.

Air Products and Chemicals Stock Up 1.6 %

Air Products and Chemicals stock opened at $329.29 on Friday. The company’s 50-day moving average price is $310.14 and its two-hundred day moving average price is $296.77. 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 has a market cap of $73.23 billion, a P/E ratio of 19.17, a P/E/G ratio of 3.16 and a beta of 0.84. Air Products and Chemicals has a twelve month low of $212.24 and a twelve month high of $337.00.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio is 41.21%.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Air Products and Chemicals in the 3rd quarter worth $25,000. Raleigh Capital Management Inc. boosted its holdings in Air Products and Chemicals by 69.4% in the fourth 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 period. Financial Life Planners acquired a new position in Air Products and Chemicals during the 4th quarter worth $31,000. Iron Horse Wealth Management LLC increased its holdings in Air Products and Chemicals by 88.7% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 55 shares during the period. Finally, Fortitude Family Office LLC raised its position in Air Products and Chemicals by 58.8% in the 4th quarter. Fortitude Family Office LLC now owns 135 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. 81.66% of the stock is 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.