Air Products and Chemicals (NYSE:APD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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

Several other equities research analysts have also weighed in on the stock. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 target price on the stock in a report on Friday, January 31st. UBS Group upped their target price 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. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price on the stock. in a report on Monday, January 27th. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a report on Friday, October 25th. Finally, Citigroup upped 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $339.94.

Air Products and Chemicals Trading Down 5.3 %

Shares of APD stock opened at $310.66 on Friday. Air Products and Chemicals has a 52-week low of $213.80 and a 52-week high of $341.14. The stock has a market cap of $69.09 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 3.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.34 and a current ratio of 1.11. The firm has a fifty day moving average of $309.83 and a 200-day moving average of $301.60.

Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts forecast that Air Products and Chemicals will post 12.77 earnings per share for the current fiscal 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 issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a yield of 2.30%. Air Products and Chemicals’s dividend payout ratio is presently 41.11%.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors have recently added to or reduced their stakes in the business. Wedmont Private Capital raised its position in Air Products and Chemicals by 9.2% in the 3rd quarter. Wedmont Private Capital now owns 1,503 shares of the basic materials company’s stock valued at $470,000 after buying an additional 126 shares during the last quarter. Tobam boosted its stake in Air Products and Chemicals by 50.7% in the 3rd quarter. Tobam now owns 410 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 138 shares during the period. Pinnacle Bancorp Inc. boosted its stake in Air Products and Chemicals by 12.9% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 456 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 52 shares during the period. Agate Pass Investment Management LLC raised its holdings in shares of Air Products and Chemicals by 2.4% in the 3rd quarter. Agate Pass Investment Management LLC now owns 6,902 shares of the basic materials company’s stock valued at $2,055,000 after acquiring an additional 165 shares in the last quarter. Finally, Independence Bank of Kentucky raised its holdings in shares of Air Products and Chemicals by 11.0% in the 3rd quarter. Independence Bank of Kentucky now owns 9,277 shares of the basic materials company’s stock valued at $2,762,000 after acquiring an additional 919 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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.