Air Products and Chemicals, Inc. (APD) to Distribute Quarterly Dividend of $1.77 on February 10th

Air Products and Chemicals, Inc. (NYSE:APD) announced a quarterly dividend on Thursday, November 21st,RTT News reports. Investors of record on Thursday, January 2nd will be given a dividend of 1.77 per share by the basic materials company on Monday, February 10th. This represents a $7.08 annualized dividend and a yield of 2.13%.

Air Products and Chemicals has raised its dividend payment by an average of 9.3% annually over the last three years and has increased its dividend annually for the last 49 consecutive years. Air Products and Chemicals has a payout ratio of 54.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Air Products and Chemicals to earn $14.16 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 50.0%.

Air Products and Chemicals Trading Up 0.9 %

NYSE APD opened at $331.83 on Friday. The business has a 50 day simple moving average of $310.63 and a 200 day simple moving average of $282.67. The stock has a market capitalization of $73.77 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. Air Products and Chemicals has a one year low of $212.24 and a one year high of $332.69.

Wall Street Analyst Weigh In

APD has been the topic of several recent research reports. Barclays increased their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Redburn Atlantic upgraded Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price target on the stock in a report on Friday, October 25th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a report on Monday, October 7th. Mizuho raised their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the company from $295.00 to $364.00 in a report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.53.

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.