Air Products and Chemicals (NYSE:APD) Price Target Raised to $330.00

Air Products and Chemicals (NYSE:APD) had its target price increased by The Goldman Sachs Group from $291.00 to $330.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Several other research firms also recently commented on APD. Morgan Stanley upped their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an equal weight rating in a research report on Wednesday, June 5th. TD Cowen raised their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Bank of America raised their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a buy rating in a research note on Monday, June 10th. BMO Capital Markets raised their price objective on Air Products and Chemicals from $294.00 to $300.00 and gave the stock an outperform rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $296.53.

Air Products and Chemicals Stock Performance

Shares of NYSE APD opened at $277.42 on Monday. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $307.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.27. The stock has a 50 day moving average price of $266.70 and a 200 day moving average price of $250.51. The stock has a market capitalization of $61.67 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

Several hedge funds have recently modified their holdings of APD. Turtle Creek Wealth Advisors LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth about $27,000. Roble Belko & Company Inc acquired a new position in Air Products and Chemicals during the 4th quarter worth about $27,000. Sachetta LLC acquired a new position in Air Products and Chemicals during the 4th quarter worth about $27,000. Security National Bank acquired a new position in Air Products and Chemicals during the 4th quarter worth about $27,000. Finally, Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals during the 1st quarter worth about $27,000. Institutional investors and hedge funds 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.