Air Products and Chemicals (NYSE:APD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Air Products and Chemicals (NYSE:APD) from a sell rating to a hold rating in a research report report published on Friday morning.

Other equities analysts have also recently issued research reports about the company. Barclays raised their price target on Air Products and Chemicals from $245.00 to $290.00 and gave the company an equal weight rating in a report on Monday, June 10th. Bank of America lifted their target price on Air Products and Chemicals from $275.00 to $312.00 and gave the company a buy rating in a research report on Monday, June 10th. UBS Group boosted their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the stock a neutral rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an equal weight rating in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a buy rating to a hold rating and reduced their price target for the company from $310.00 to $280.00 in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $296.20.

Air Products and Chemicals Stock Down 1.1 %

Shares of APD stock opened at $278.68 on Friday. The firm has a market cap of $61.95 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The stock has a 50 day moving average of $265.80 and a 200-day moving average of $250.06.

Air Products and Chemicals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.54%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Institutional Trading of Air Products and Chemicals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APD. Capital Research Global Investors raised its holdings in Air Products and Chemicals by 62.3% in the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after acquiring an additional 4,309,040 shares during the last quarter. Norges Bank acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $852,288,000. Raymond James & Associates raised its stake in Air Products and Chemicals by 8.7% during the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock worth $508,626,000 after acquiring an additional 167,800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Air Products and Chemicals by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock worth $525,085,000 after acquiring an additional 5,140 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after acquiring an additional 1,737,260 shares in the last quarter. 81.66% of the stock is 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.